William Blair assumed coverage of MarketAxess with an Outperform rating. MarketAxess is a leading electronic fixed-income trading platform that offers trading in a variety of products and protocols to a global network of clients, the analyst tells investors in a research note. The firm says the company has multiple growth drivers, including secular tailwinds of increasing electronification, further penetration of core markets, geographic expansion, and expanding trading protocols. It believes MarketAxess’ growth is poised to reaccelerate due to a better macro backdrop and more robust share gains from recent automation enhancements. Blair sees upside potential to at least $320 per share.
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