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Keefe, Bruyette & Woods Upgrades MarketAxess (MKTX) to Outperform; Dip Offers Buying Opportunity

April 12, 2012 11:50 AM EDT
Get Alerts MKTX Hot Sheet
Price: $217.75 --0%

Rating Summary:
    5 Buy, 13 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 8 | New: 10
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Keefe, Bruyette & Woods upgraded MarketAxess (NASDAQ: MKTX) to Outperform with a price target of $40.00.

Analyst, Miamh Alexander, said, "We upgrade MKTX following the 6% decline in the stock price we believe primarily in response to a WSJ article about buy-side venue, Blackrock (NYSE: BLK) establishing its own trading venue that follows a similar report in institutional investor last month. While headline risk about this customer venue competing with MKTX could remain, we don't expect MKTX to cut its pricing or experience significant deterioration in its business as a result of this."

For an analyst ratings summary and ratings history on MarketAxess click here. For more ratings news on MarketAxess click here.

Shares of MarketAxess closed at $36.39 yesterday.


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