MarketAxess price target raised to $229 from $203 at Rosenblatt

Rosenblatt analyst Andrew Bond raised the firm’s price target on MarketAxess (MKTX) to $229 from $203 and keeps a Sell rating on the shares. The trading environment for fixed income continues to improve and commentary from both Tradeweb Markets (TW) and MarketAxess indicates that 2024 is “off to a strong start,” the analyst tells investors. While the trading environment should benefit both MarketAxess and Tradeweb in 2024, the firm believes only Tradeweb has the ability to produce mid-teens growth on the top and bottom line, the analyst added.