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Fly News Breaks for February 12, 2020
VIRT
Feb 12, 2020 | 08:34 EDT
Rosenblatt analyst Kenneth Hill said Virtu Financial's earnings report "came with few surprises" after the company provided preliminary results last week, although he noted that management said they now expect expenses to be at the very bottom of the guided $620M-650M range. Hill, who expects 2020 consensus expense expectations to move closer to the targeted $620M following the report, said that Virtu's recent refinancing efforts add to his 2020 EPS estimate. He is incrementally positive on the shares following the report and raised his price target on Virtu to $21 from $19 while keeping a Buy rating on the shares.
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