Citi analyst Christopher Allen raised the firm’s price target on MarketAxess to $360 from $285 and keeps a Buy rating on the shares. The analyst refreshed estimates for the brokers and asset managers ahead of Q4 earnings. Overall, he continues to favor the exchanges over the brokers at present given his expectations for a "choppy" equity market in 2023. The analyst sees the exchanges as more defensive plays.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on MKTX:
- MarketAxess price target raised to $340 from $265 at Deutsche Bank
- MarketAxess promotes COO Chris Concannon to CEO
- MarketAxess reports December total trading average daily volume up 27% y-o-y
- Microsoft, Arista among stocks that can survive a triple whammy, Barron’s says
- MarketAxess price target raised to $294 from $284 at Credit Suisse