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Fly News Breaks for March 4, 2020
Mar 4, 2020 | 07:40 EDT
JPMorgan analyst Kenneth Worthington raised the firm's price target on Virtu Financial to $23 from $20 and keeps an Overweight rating on the shares. The analyst increased estimates for Virtu to reflect better activity levels and "more robust" market conditions. This would seem to be Virtu's "moment to shine," with both volumes and volatility on the rise across multiple asset classes, Worthington tells investors in a research note. The analyst expects that Virtu was a beneficiary of the migration to $0 commissions beginning in Q4 and the resulting increase in retail trading activity.
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