Marex Group initiated with a Buy at Goldman Sachs

Goldman Sachs initiated coverage of Marex Group with a Buy rating and $33 price target, which represents 73% upside. Marex is a diversified global broker-dealer and a market maker across energy, commodities, and financial markets, with 90% of revenues driven by trading and 10% by net interest income, the analyst tells investors in a research note. The firm expects the company continue will see robust growth through 2026 and says the shares are trading at a discount.