BofA analyst Craig Siegenthaler lowered the firm’s price target on Interactive Brokers (IBKR) to $265 from $307 and keeps a Buy rating on the shares. If the equity market correction deepens, there is EPS risk from cash sweep revenues, trading/margin loans and fees, but the firm remains long-term bullish on retail brokers given multiple secular themes, especially on the two online brokers – Interactive Brokers and Robinhood (HOOD) – after the year-to-date correction improved their valuations, the analyst tells investors in a preview for the group.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IBKR:
- Thomas Peterffy of Interactive Brokers Has Earned $6 Billion from Newsmax (NMAX) IPO
- Interactive Brokers price target lowered to $215 from $242 at Citi
- Newsmax 25% stake discloses by Thomas Peterffy of Interactive Brokers
- Interactive Brokers reports March DARTs 44% higher than prior year
- Interactive Brokers adds four popular cryptocurrency tokens to platform