Deutsche Bank Joins Ranks in HOOD Stock Upgrade Frenzy

Deutsche Bank has increased its target for HOOD stock to $136, citing the growing traction of the Robinhood Chain as a bullish catalyst. This is the latest in a series of upgrades from Wall Street giants, with Morgan Stanley raising its target to $150 and Scotiabank upgrading its rating to Outperform with a price target of $136.

The Robinhood Chain has been gaining momentum, with several key metrics on the rise. Its Total Value Locked (TVL) has jumped nearly 27% in the last seven days, reaching $840 million, while fees have surpassed $4.59 million over the past 24 hours.

Market commentator The Milk Road noted that the Robinhood Chain's annualized 7-day revenues make it the fourth-largest business vertical across the brokerage's 14 business lines, with a revenue of $13.12 million in just under two months of launch.