Citigroup Trims Target on Tradeweb Despite Record Trading Activity

While Tradeweb Markets Inc. continues to post impressive trading volumes, Citigroup has opted to tighten its expectations. The financial giant has maintained its ‘Buy’ recommendation but made a significant downward revision to its price target, sending a mixed message to investors.

The adjustment, announced yesterday, sees the price objective lowered to $150 from $170, an 11.76% reduction. This decision by Citigroup?s analysts follows the release of Tradeweb?s operational metrics for August, which highlighted robust activity across its electronic trading platforms.

Tradeweb?s latest metrics reveal a business performing well. The company reported a total trading volume of $54.1 trillion for August. This equated to an average daily volume (ADV) of $2.5 trillion, marking a solid 11.3% increase compared to the same period last Read more...