Citi analyst Christopher Allen maintains $MarketAxess (MKTX.US)$ with a buy rating, and maintains the target price at $325.
According to TipRanks data, the analyst has a success rate of 82.5% and a total average return of 24.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $MarketAxess (MKTX.US)$'s main analysts recently are as follows:
The company exhibited robust activity in September, bolstered by performance strength across its product range. Looking ahead, there is a positive stance on the credit market, given the prospects for more favorable volatility, widening spreads, an increased shift into fixed income, and ongoing trends towards electronic trading.
The firm acknowledges that lower interest rates and a slow recovery in deal activity pose downside risks for many stocks in the capital markets sector leading up to third-quarter reports. It observes that despite the risk-on behavior driven by expectations of quicker rate cuts and stronger equity markets, the sluggish pace of deal activity continues to challenge alternative managers, especially given the high valuation multiples. Additionally, the firm notes a general deterioration in organic growth among traditional managers during the third quarter. Moreover, it points out that lower interest rates could significantly impact the earnings of brokers and wealth managers. Nonetheless, the firm anticipates exchanges and trust banks to outperform in the lead up to the third-quarter results.
Note:
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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.
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