Citi opens ‘negative catalyst watch’ on Virtu Financial ahead of earnings

Citi analyst Christopher Allen kept a Buy rating on Virtu Financial with a $22 price target while opening a “90-day negative catalyst watch” on the shares ahead of Q4 earnings. The firm sees potential downside risk to consensus estimates for the quarter, noting that its own forecasts are currently 12% below the Street, and also sees potential headline risk from the expected release of the SEC equity market structure rules in early 2024, the analyst tells investors.