Goldman Sachs upgraded Interactive Brokers to Buy from Neutral with a price target of $102, up from $88, implying 16% total return potential. Interest rate cuts appear more than fully priced into the shares, which sets up an attractive entry point, the analyst tells investors in a research note. The firm estimates the market forecasts a 3%-16% decline in Interactive’s earnings from 2023 to 2025. However, Goldman sees “substantial upside to these market-implied earnings.”
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