Virtu Financial price target raised to $32 from $26 at Citi

Citi analyst Christopher Allen raised the firm’s price target on Virtu Financial to $32 from $26 and keeps a Buy rating on the shares. The stock rallied 20% post earnings driven by better than expected adjusted income despite a more muted opportunity set as Virtu saw the benefits from enhancements made across its market making and execution services businesses, the analyst tells investors in a research note. The firm says this print raised the floor of the company’s earnings power and provides incremental confidence in its ability to generate healthy earnings and returns in a more challenging environment.