Robinhood jumps after BofA lifts PT to $95

Shares of trading platform Robinhood HOOD.O jump as much as 7.3%; last up 5.8% at $87.88

BofA Global Research lifts PT to $95 from $65, representing a 14.4% upside to stock's last close

Raises earnings multiple for HOOD to 40x from 30x given improved regulatory outlook for digital assets

Brokerage says it is more optimistic on the near-term regulatory outlook for digital assets, which will help broaden investor participation in cryptocurrency and support engagement among existing traders

Maintains its "buy" rating given HOOD's strong growth trajectory

14 of 21 brokerages rate the stock "buy" or higher, 6 "hold" and 1 "sell"; median PT $70.50 - data compiled by LSEG

As of last close, HOOD stock has more than doubled YTD