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Fly News Breaks for July 18, 2018
IBKR
Jul 18, 2018 | 08:40 EDT
SunTrust analyst Douglas Mewhirter lowered his price target on Interactive Brokers to $71 and kept his Hold rating after its mixed Q2 results. The analyst notes the company posted slower account growth and Daily Average Revenue Trades metrics, even as its net interest income improved and its profits benefited from the lower tax rate. As a result of the lower forecasted commissions revenues, Mewhirter also lowers his Interactive Brokers' FY18 EPS estimate to $2.16 from $2.23.
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