Why MarketAxess Holdings Rocketed Higher Again Today
While it's early days, this seems to be an ideal week to own shares of bond trading platform operator MarketAxess Holdings (NASDAQ: MKTX). After the previous day's 5%-plus pop, the stock rose an additional 4% on Tuesday; by contrast on the latter day, the S 500 index dipped by 0.4%. Much of Tuesday's rise was due to an analyst move.
Well before the market open on Tuesday, Citigroup's Chris Allen raised his price target on MarketAxess stock. Allen now feels that it is worth $300 per share, up from the previous level of $270. As the new target sits nearly 15% above the current market price, the prognosticator has maintained his buy recommendation.
It wasn't immediately clear why Allen elected to crank his MarketAxess price target higher. However, it hardly seems coincidental that the move came a day after the company published its regular monthly metrics release.
Source Fool.com
MarketAxess Holdings Stock
Based on 6 Buy predictions and 6 Sell predictions the sentiment towards MarketAxess Holdings is rather balanced.
As a result the target price of 233 € shows a positive potential of 22.41% compared to the current price of 190.35 € for MarketAxess Holdings.
