BofA lowered the firm’s price target on Tradeweb Markets (TW) to $208 from $212 and keeps a Buy rating on the shares. Ahead of Q1 earnings from exchange group, the firm embeds the most recent monthly volume and fee rate disclosures into its models, leading it to modestly lower earnings estimates for Intercontinental Exchange, Nasdaq (NDAQ), MarketAxess (MKTX) and Tradeweb given a slightly softer March fee rate than expected.
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Read More on TW:
- Tradeweb Markets price target raised to $153 from $142 at TD Cowen
- Tradeweb Markets downgraded to Equal Weight at Morgan Stanley on valuation
- Tradeweb Markets downgraded to Equal Weight from Overweight at Morgan Stanley
- Tradeweb Markets price target raised to $177 from $149 at Barclays
- Tradeweb Markets: Strong Volume Growth and Market Share Gains Drive Buy Rating