Citi analyst Christopher Allen raised the firm’s price target on Interactive Brokers to $105 from $100 and keeps a Buy rating on the shares ahead of the Q4 report. Rate positioning has remained a dominant theme for the brokers, and shifts in rate expectations will create opportunities in the space, the analyst tells investors in a research note. The firm says client cash allocation behavior is likely to continue to skew to higher yielding instruments and may be permanently altered relative to historical levels. Citi suspects the space “over-reacted a bit” post the Federal Reserve decision in December.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on IBKR:
- Interactive Brokers upgraded to Buy from Neutral at Goldman Sachs
- Interactive Brokers price target lowered to $109 from $112 at Barclays
- Comcast among forgotten value stocks with potential to grow, Barron’s says
- Interactive Brokers reports December DARTs up 13% y/y
- Interactive Brokers reports November DARTs down 3% y/y