STOCKS | Deutsche Bank Raises Robinhood Price Target to $136 on Robinhood Chain Fee Growth

Deutsche Bank analyst Brian Bedell raised Robinhood's price target from $115 to $136 and kept a buy rating, citing a recent acceleration in Robinhood Chain fee revenue that has outpaced earlier forecasts. According to Foresight News, Bedell said DeFiLlama data showed the chain's daily fee revenue had stayed below about $200,000 until mid-August, then climbed each day to $4.01 million on September 2. Over the past five days, Robinhood Chain generated $10.8 million in total fee revenue, with about $5.4 million attributed to Robinhood. That figure exceeded Bedell's earlier estimate of $4.6 million for the entire third quarter. Bedell said the momentum is notable, but it remains unclear whether it can continue.