Rothschild & Co Redburn downgraded Tradeweb Markets (TW) to Neutral from Buy with a price target of $129, down from $157. Tradeweb’s premium valuation to MarketAxess (MKTX) has begun to erode in recent months, suggesting the market has concerns about challenges in fixed-income trading and the company’s growth outlook, the analyst tells investors in a research note. The firm expects Tradeweb’s growth over the next five years to fall short of investor expectations, creating less upside potential in the shares.
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Read More on TW:
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