Citi opens ‘positive catalyst watch’ on MarketAxess

Citi opened a “30-day positive catalyst watch” on shares of MarketAxess while keeping a Buy rating on the shares with a $310 price target. The analyst expects to see strong monthly data for August reported on September 5. While there are still a couple of trading days to go in the month, August is shaping up to be a strong month from a credit volume perspective, the analyst tells investors in a research note. Citi expects MarketAxess market share to benefit from lower issuance, higher credit spreads, wider bid-ask spreads and increased ETF activity.