Tradeweb Markets initiated with an Overweight at Barclays

Barclays analyst Benjamin Budish initiated coverage of Tradeweb Markets with an Overweight rating and $89 price target. Tradeweb is a direct beneficiary of the ongoing electronification of fixed income trading, which should benefit the company for years to come, the analyst tells investors in a research note. The firm says the company has successfully gained market share in corporate credit. It also thinks the likelihood of takeout is highest for Tradeweb in the coverage group, given its outsized ownership by LSEG.