Goldman Sachs Starts MarketAxess (MKTX) at Sell
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Goldman Sachs analyst Alexander Blostein initiates coverage on MarketAxess (NASDAQ: MKTX) with a Sell rating and a price target of $175.00.
The analyst comes out negative noting the company is becoming increasing cyclical in nature as market share gains depend more on volatility levels. He believes the current valuation is errant as consensus estimates appears to priced as if the company is a secular growth name.
Shares of MarketAxess closed at $213.79 yesterday.
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