Goldman Sachs Upgrades NDAQ, EVR, MKTX; Downgrades JEF, NITE
Goldman Sachs is making some changes in the Capital Markets sector today.
The firm upgraded Nasdaq (Nasdaq: NDAQ) and Evercore Partners (NYSE: EVR) from Neutral to Buy and upgraded MarketAxess Holdings (Nasdaq: MKTX) from Sell to Neutral. The firm downgraded Jefferies Group (NYSE: JEF) from Neutral to Sell, downgraded Knight Capital (Nasdaq: NITE) from Buy to Neutral.
On NDAQ, the firm said the growth potential is under-appreciated.
On EVR, the firm said they are bullish on the direction of global M&A.
On JEF, the firm said it is vulnerable to a slowdown in FICC, as credit spreads widen, volume growth slows or falls, and bid/ask spreads tighten.
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