MarketAxess price target raised to $283 from $263 at Morgan Stanley

Morgan Stanley analyst Michael Cyprys raised the firm’s price target on MarketAxess (MKTX) to $283 from $263 and keeps an Overweight rating on the shares. Volumes accelerated on the back of elevated volatility in April and while volatility has receded from early April peaks, the macro outlook remains uncertain, the analyst tells investors. Favorable cyclical tailwinds, combined with product/protocol innovation, should boost adoption and support market share, the analyst argues.