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BofA Securities Maintains Virtu Financial(VIRT.US) With Buy Rating, Cuts Target Price to $35

Futu News ·  Oct 3 19:34  · Ratings

BofA Securities analyst Craig Siegenthaler maintains $Virtu Financial (VIRT.US)$ with a buy rating, and adjusts the target price from $37 to $35.

According to TipRanks data, the analyst has a success rate of 67.8% and a total average return of 16.2% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $Virtu Financial (VIRT.US)$'s main analysts recently are as follows:

  • The firm believes that most capital markets stocks face downside risks heading into Q3 reports due to persistently low interest rates and a slow recovery in deal activity. Despite the shift towards risk-on behavior spurred by the anticipation of faster rate cuts and stronger equity markets, sluggish deal activity continues to pose challenges for many alternative managers, with valuations perceived to be quite high. Additionally, traditional managers have seen organic growth weaken in the third quarter. Moreover, the low-interest-rate environment is seen as a significant threat to the earnings of many brokers and wealth managers. However, exchanges and trust banks are viewed as relative safe havens in the upcoming Q3 results.

  • Estimates and targets for exchanges are being revised to reflect intra-quarter data points, according to an analyst's Q3 preview note.

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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