BGC Group price target lowered to $7 from $8.50 at Piper Sandler

Piper Sandler lowered the firm’s price target on BGC Group to $7 from $8.50 and keeps an Overweight rating on the shares ahead of the Q2 results. The analyst says the exchanges should post solid Q2 results despite volatility declining. Meanwhile, regulatory actions by the SEC impacted companies in both U.S. equity trading and crypto industries, the analyst tells investors in a research note.