Citi raised the firm’s price target on Interactive Brokers to $145 from $135 and keeps a Buy rating on the shares ahead of the Q2 report. Higher for longer rate broker and asset manager names Interactive Brokers (IBKR) and LPL Financial (LPLA) have outperformed, and Citi continues to prefer these players given their strong organic growth momentum, the analyst tells investors in a research note. The firm says more muted equity markets in second half of 2024 could present some asset growth headwinds and despite some signs of improvement, the capital markets environment remains challenging.
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