CICC last night initiated coverage of Interactive Brokers (IBKR) with an Outperform rating and $78 price target The firm views the company as a “pioneer and leader” in global electronic trading. Interactive Brokers has transformed from an electronic market maker into an automated broker, offering a full range of brokerage services, the analyst tells investors in a research note. CICC sees the company’s retail and institutional businesses driving “rapid” growth.
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