Jefferies raises trading platform Tradeweb Markets' PT on strong growth drivers

Tradeweb Markets

24/09/2024 17:48

** Brokerage Jefferies raises PT on rates and credit trading
platform Tradeweb Markets  TW.O  to $118 from $109
    ** Says several factors such as interest rate volatility,
growth in portfolio trading and greater utilization of TW's
product remain solid growth drivers ahead
    ** Brokerage also says mortgages have potential for more
activity as interest rates decline, and notes strong volume
growth across global government bonds, interest rate swaps,
corporate credit and repurchase agreements
    ** "Maintaining and/or improving market share in higher
volatility periods remains a proof point for TW," said analyst
Daniel T. Fannon
    ** Says co's global suite of products positions them well to
compete more effectively in additional asset classes
    ** Co's HY growth is expected to be driven by the expansion
of TW's client network, functionality enhancements, and stronger
penetration with ETF market makers
    ** 10 of 14 brokerages rate the stock "buy" or higher, four
"hold", with a median PT of $124.50
    ** Up to Monday's close, stock had risen 33.2% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))