Citi opened a “30-day negative catalyst watch” on shares of MarketAxess in the September metrics announcement. Spread volatility remains low and issuance in September has picked up relative to recent months, which will likely negatively impact the company’s market share, the analyst tells investors in a research note. On the pricing side, duration continues to decline from August levels which also presents a continued headwind, says Citi. It keeps a Buy rating on MarketAxess but sees potential downside to Q3 earnings estimates.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on MKTX:
- Early notable gainers among liquid option names on September 15th
- MarketAxess price target lowered to $213 from $234 at Rosenblatt
- MarketAxess reports August total ADV up 2.3% to $10.4B
- Early notable gainers among liquid option names on August 14th
- MarketAxess to acquire algorithmic trading provider Pragma,no terms