Interactive Brokers price target raised to $106 from $97 at Barclays

Barclays raised the firm’s price target on Interactive Brokers to $106 from $97 and keeps an Overweight rating on the shares. The rate futures curve has come up meaningfully since a prior update and, despite softer trading activity, fiscal 2024 and 2025 estimates come up particularly for Schwab and Interactive Brokers ahead of the Q2 reports, the analyst tells investors in a research note. The firm is incrementally positive on Schwab but awaits more clarity on its cash balance growth.