MarketAxess price target lowered to $239 from $291 at Barclays

Barclays analyst Benjamin Budish lowered the firm’s price target on MarketAxess to $239 from $291 and keeps an Equal Weight rating on the shares. The company’s Q4 results “were fine” but the January outlook was worse than expected, the analyst tells investors in a research note. MarketAxess is making progress with its new trading technologies, but it will take some time for these to translate to the bottom line, says the firm.