BGC Group price target raised to $7.50 from $7.00 at Piper Sandler

Piper Sandler analyst Patrick Moley raised the firm’s price target on BGC Group to $7.50 from $7.00 and keeps an Overweight rating on the shares. The company reported revenue and adjusted pretax earnings that were the highest for a single quarter in over three years and it also saw “impressive” results in Energy and Commodities, the analyst tells investors. BGC’s growth story is beginning to play out as the company “meaningfully outperforms” the industry, Piper Sandler says.