J.P. Morgan upgrades Forge Global to 'neutral' rating

Forge Global Holdings

14/05/2025 12:48

** J.P. Morgan upgrades private market platform Forge Global FRGE.N to "neutral" from "underweight" rating, citing solid performance in Q1

** Brokerage says FRGE's Q1 revenue represents strongest quarter since 2021

** JPM expects co's Q2 to be less robust due to ongoing macro uncertainty, as FRGE's business is highly sensitive to transaction volumes on its platform

** Brokerage says FRGE is making steady progress against strategic initiatives and continues to broaden business with more partnerships and prospective acquisition of specialized asset management firm Accuidity

** As of last close, stock up ~27.4% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)

 ((Prakhar.srivastava2@thomsonreuters.com))