Piper Sandler analyst Patrick Moley lowered the firm’s price target on Tradeweb Markets (TW) to $110 from $130 and keeps a Neutral rating on the shares. The third quarter was a mixed bag for exchange and trading companies, the firm says. Heading into Q4, Piper expects significant investor attention to the overall health of the retail trader, emerging trends in areas like tokenization and prediction markets, and the outlook for global capital markets activity into year-end.
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