BofA lowered the firm’s price target on MarketAxess (MKTX) to $164 from $168 and keeps an Underperform rating on the shares. The firm reduced its near-term market share estimates for Tradeweb Markets (TW) and MarketAxess to account for the ongoing slowdown in industrywide portfolio trading volume and Trumid’s share gains in request for quote and portfolio trading, the analyst tells investors.
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