William Blair analyst Jeff Schmitt has maintained their bullish stance on MKTX stock, giving a Buy rating on November 7.
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Jeff Schmitt’s rating is based on MarketAxess Holdings’ strong performance despite challenging market conditions. The company reported adjusted earnings per share that exceeded consensus expectations, demonstrating resilience in a tough environment characterized by tightening credit spreads and declining volatility.
Additionally, MarketAxess is making significant strides in its international expansion and strategic initiatives, which are expected to drive future growth. The company’s trading volumes have seen notable increases, particularly in dealer-initiated and block trading. With the stock trading below its historical average valuation, Schmitt sees upside potential as market conditions improve and strategic initiatives contribute more significantly to earnings growth.
Schmitt covers the Financial sector, focusing on stocks such as Marketaxess Holdings, Tradeweb Markets, and Charles Schwab. According to TipRanks, Schmitt has an average return of 5.7% and a 60.00% success rate on recommended stocks.
In another report released on November 7, Morgan Stanley also maintained a Buy rating on the stock with a $247.00 price target.