Citi analyst Christopher Allen raised the firm’s price target on Tradeweb Markets to $120 from $115 and keeps a Buy rating on the shares. Q1 was an “exceptional quarter” for the company with total average daily volume of $1.9T, up 39% from last year, driven by exceptionally strong rate volumes and healthy credit activity, the analyst tells investors in a research note. Citi adds that it expects the strong volume growth and solid data growth to drive 24% top-line growth in Q1.
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