Bank of America double upgrades Robinhood, citing rise in retail trading

Bank of America has upgraded Robinhood to "buy" from "underperform," raising its price target to $24 due to an anticipated rise in retail trading. The stock has seen a 7% increase and a 10% weekly gain, influenced by a resurgence in meme stock activity. Analyst Craig Siegenthaler predicts a significant growth in retail engagement, driving revenue through increased trading activity and margin loan utilization at Robinhood through 2026.