Virtu Financial up after BofA starts coverage with 'buy'

Virtu Financial

28/11/2023 12:38

** Shares of trading firm Virtu Financial  VIRT.O  rise
1.41% to $18.01 premarket after BofA Global Research initiates
coverage with a "buy" rating
    ** Brokerage sets price objective at $20, implying a 12.6%
upside to VIRT's last close
    ** The SEC sued VIRT on Sept. 12, accusing it of failing to
properly safeguard customers' confidential information
    ** BofA says current entry point attractive given the recent
negative news and a depressed valuation
    ** "Taking a contrarian view after market punishes market
maker" - BofA
    ** Up to last close, stock down ~13% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))