BofA Securities analyst Eli Abboud maintains $MarketAxess (MKTX.US)$ with a sell rating, and adjusts the target price from $193 to $185.
According to TipRanks data, the analyst has a success rate of 0.0% and a total average return of -17.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $MarketAxess (MKTX.US)$'s main analysts recently are as follows:
Lower interest rates and a slow recovery in deal activity present downside risks across the majority of capital markets stocks going into third-quarter reports. While the anticipation of more rapid rate reductions and stronger equity markets have encouraged risk-on behavior, sluggish deal activity continues to pose challenges for alternative managers amid high valuation multiples. In the third quarter, organic growth for most traditional managers has waned, and lower interest rates are seen as a significant risk to earnings for many brokers and wealth managers. Nonetheless, exchanges and trust banks are viewed as comparatively more resilient heading into the third-quarter earnings season.
The firm is adjusting estimates and targets across the exchanges to reflect intra-quarter data points, as discussed by an analyst in a Q3 preview note.
Note:
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