BGC Group initiated with a Buy at BofA

BofA initiated coverage of BGC Group (BGC) with a Buy rating and $16 price target BGC is a multi-asset class brokerage with a growing e-trading footprint, notes the analyst, who cites a “bullish outlook” for its new FMX Futures Exchange, the “underappreciated” secular growth qualities of its Energy segment, and a favorable macro backdrop under the new administration for the firm’s Buy rating.