Bernstein Maintains Outperform Rating for Robinhood with $160 Price Target

Bernstein analysts have maintained an 'outperform' rating on Robinhood Markets with a $160 price target, citing the profitability of the newly launched Robinhood Chain. Since its July 1 launch, the Layer 2 network has generated approximately $39 million in fees, with projections reaching $160 million annually by 2028. Robinhood retains about 90% of these fees, while Arbitrum receives 10% and Ethereum less than 1%. The value of tokenized stocks on the chain grew from $10 million to $140 million over the past two months.