Virtu Financial (VIRT) PT Raised to $22.50 at Citi

Citi analyst Chris Allen raised the price target on Virtu Financial (NASDAQ: VIRT) to $22.50 (from $21.00) while maintaining a Buy rating.

The analyst commented, "In 1Q24, the environment for VIRT has seen some improvement as healthier retail activity, higher 605 data (quoted spread value), and continued momentum in crypto should provide some offset to low volatility levels. While the environment is still not ideal, we continue to believe VIRT is well positioned to benefit from an improving fundamental environment (i.e., either continued retail momentum or healthier realized volatility) and longer term as they continue to make progress on growth initiatives (options, FICC, ETF block, crypto). We reiterate our Buy rating."

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