HSBC Downgrades Marex Group PLC (MRX) to Hold

HSBC analyst Carlos Gomez-Lopez downgraded Marex Group PLC (NASDAQ: MRX) from Buy to Hold with a price target of $36.00 (from $33.00).

The analyst comments: "We adjust our estimates and roll forward our valuation base, leading to an increase in our TP to USD36.00 (from USD33.00), implying c1% downside. Since the IPO in April 2024, the stock has experienced a robust rally, with a c64% increase in 2024 and c16% YTD. The stock is now trading at a 2025 PE of 10.8x vs 9.8x for StoneX, its closest peer, and we see limited room for further upward re-rating. We note that the environment may be less supportive, and bond prices are starting to price lower policy rates. With the market having already rewarded the company’s initial performance, further growth would need to be both substantial and sustainable to justify a higher valuation multiple. Thus, we downgrade the stock to Hold from Buy."

For an analyst ratings summary and ratings history on Marex Group PLC click here. For more ratings news on Marex Group PLC click here.

Shares of Marex Group PLC closed at $36.38 yesterday.

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