UPDATE: FXCM (FXCM) Shares Higher as JPMorgan Adds to 'Focus List'
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Price: $2.80 --0%
Rating Summary:
4 Buy, 2 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
4 Buy, 2 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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(Updated - March 13, 2012 2:46 PM EDT)
Shares of FXCM Inc. (Nasdaq: FXCM) have rallied more than 3 percent Tuesday morning as JPMorgan's Ken Worthington added the stock to the firm's "Focus List" earlier.
Worthington said, "despite some lower volatility in FX broadly, we see potential for particular strength in FXCM's recently built-out Japanese business to surprise investors with better-than-expected volumes. Furthermore, we see the ongoing dislocations in the Japanese market allowing both for more acquisitions (potentially a very large one) and for greater organic growth as FXCM looks to recruit clients dislocated by financial weakness at Japanese competitors."
Worthington maintains an Overweight rating and $14 price target on FXCM shares.
With the stock last trading around $10.40, the analyst's target represents potential upside of about 35 percent.
To track all the market-moving analyst action on shares of FXCM, visit our Analyst Ratings page.
Shares of FXCM Inc. (Nasdaq: FXCM) have rallied more than 3 percent Tuesday morning as JPMorgan's Ken Worthington added the stock to the firm's "Focus List" earlier.
Worthington said, "despite some lower volatility in FX broadly, we see potential for particular strength in FXCM's recently built-out Japanese business to surprise investors with better-than-expected volumes. Furthermore, we see the ongoing dislocations in the Japanese market allowing both for more acquisitions (potentially a very large one) and for greater organic growth as FXCM looks to recruit clients dislocated by financial weakness at Japanese competitors."
Worthington maintains an Overweight rating and $14 price target on FXCM shares.
With the stock last trading around $10.40, the analyst's target represents potential upside of about 35 percent.
To track all the market-moving analyst action on shares of FXCM, visit our Analyst Ratings page.
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