Morgan Stanley upgrades MarketAxess to 'overweight' rating

MarketAxess Holdings

08/04/2025 22:38

** Morgan Stanley upgrades bond trading platform MarketAxess MKTX.O to "overweight" from "equal weight" rating

** Brokerage says rising recession risks could increase corporate bond trading volumes as investors rotate their portfolio to manage risk

** Morgan Stanley adds that market volatility could lead to increased trading activity and greater appreciation for MKTX's All-to-All liquidity pool, boosting its volumes and increasing its market shares

** Five of 14 brokerages rate the stock "buy" or higher, 8 "hold" and one "sell"; their median PT is $225 — LSEG data

** As of last close, stock down ~8.8% YTD

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))