UBS raised the firm’s price target on Virtu Financial to $24 from $18 and keeps a Neutral rating on the shares. UBS thinks the trading environment has generally remained favorable for Virtu and expects the better back drop to sustain, the analyst tells investors in a research note. UBS is now modeling a 15% sequential decline in daily Market Making revenues for Q2, while the firm expects Execution Services to be down 5% quarter over quarter.
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