Citi opens ‘positive catalyst watch’ on MarketAxess

Citi added a “90-day positive catalyst watch” on shares of MarketAxess while keeping a Buy rating on the shares with a $310 price target. The firm remains constructive on the credit market overall over the coming months citing the potential for healthier volatility and higher spreads in the second half of 2024, further rotation into fixed income, and continued electronification trends. Combined with optimism around the potential impact of further expansion of new trading tools on share gains, Citi remains constructive on MarketAxess.