Shares of Etsy (NASDAQ: ETSY) slumped Thursday morning, tumbling as much as 6.9%. As of 2:48 p.m. ET, the stock was down 6.7%.

The catalyst that sent the e-commerce platform lower was a tepid take by a Wall Street analyst.

Bank of America analyst Curtis Nagle initiated coverage of Etsy stock with a neutral (hold) rating, while issuing a price target of $120. That represents potential gains for investors of roughly 15% over the coming year compared to Wednesday's closing price. 

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Source Fool.com