BofA raised the firm’s price target on Interactive Brokers (IBKR) to $77 from $71 and keeps a Buy rating on the shares after the company reported quarterly results. The firm attributed weakness in the shares Friday to commentary on the potential hit to NII with future Fed rate cuts, adding that it is ‘impressed” with the fast pace of the company’s crypto launches. The company’s key competitive advantage, meanwhile, is is technology R&D effort which supports its first-mover advantages with new capabilities, lower product price points, and a 75%+ operating margin, the analyst tells investors in a research note.
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