P10 price target lowered to $13 from $15 at Barclays

Barclays lowered the firm’s price target on P10 (PX) to $13 from $15 and keeps an Overweight rating on the shares as part of a Q1 preview for the brokers, asset managers and exchanges. With volatility “in full swing,” mergers and initial public offering pipelines are likely to see further delays, the analyst tells investors in a research note. The firm says that while trading activity was generally robust despite a slowdown in crypto, brokers “now face a more intense headwind from a lower in-period Fed funds and futures curve.”