MarketAxess price target lowered to $246 from $278 at Barclays

Barclays lowered the firm’s price target on MarketAxess to $246 from $278 and keeps an Overweight rating on the shares post the Q3 report. Earnings were in line with estimates, and while October trading activity is trending above September levels, the incremental improvement was less than investors expected after a very strong end to September, and management struck a more cautious tone regarding revenue growth, the analyst tells investors in a research note.