MarketAxess price target lowered to $240 from $265 at Piper Sandler

Piper Sandler lowered the firm’s price target on MarketAxess (MKTX) to $240 from $265 and keeps a Neutral rating on the shares as part of an earnings preview note for earnings, trading companies and ebrokers. The U.S. Presidential election and ensuing risk-on trading environment produced record derivative volumes and the strongest quarter for cash equities since the meme stock impacted 1Q21, the analyst tells investors in a research note. The firm sees a more relaxed regulatory outlook for 2025, as well as lower rates, and a further emboldening of retail traders as key themes.