Piper Sandler raised the firm’s price target on Interactive Brokers (IBKR) to $68 from $65 and keeps an Overweight rating on the shares. The firm notes the company reported Q2 adjusted EPS of 51c per share, above its 48c estimate and consensus of 47c. Total revenue and net income were both quarterly records. The beat vs. Piper’s estimate was primarily driven by higher-than-expected net interest income, slightly offset by operating expenses which were about 2% above its forecast.
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