BofA Securities Upgrades Virtu Financial (VIRT) to Buy, 'Remain bullish on market maker secular growth opportunity'

BofA Securities analyst Craig Siegenthaler upgraded Virtu Financial (NASDAQ: VIRT) from Neutral to Buy with a price target of $45.00 (from $52.00).

The analyst comments "We are taking advantage of recent underperformance to upgrade Virtu (VIRT) to Buy from Neutral. VIRT’s valuation has declined by 24% over the last 90 days to 8x consensus NTM EPS and is now 1STDEV below its 5Y average. While VIRT has seen some market share slippage, LDD% growth in its core retail brokerage end market should allow for positive long-term earnings growth. Under new leadership, we also expect VIRT to more aggressively pursue product expansion (options, crypto, credit)."

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

Shares of Virtu Financial closed at $41.92 yesterday.

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