Virtu Financial price target lowered to $21 from $220 at Citi

Citi lowered the firm’s price target on Virtu Financial to $21 from $220 and keeps a Buy rating on the shares. The firm says that while the company’s outlook for Q1 “looks modestly better,” it reduced sales estimates to reset expectations given the Q4 results. Volatility in both the results and the stock is nothing new, “but we have been hoping increased traction in growth initiatives would provide more earnings diversity/stability,” the analyst tells investors in a research note. Citi says this was not the case in Q4.