Zacks Investment Research upgraded shares of Interactive Brokers Group, Inc. (IBKR) from NEUTRAL to OUTPERFORM on May 27, 2014, with a target price of $25.50.
We are upgrading our long-term recommendation on Interactive Brokers to Outperform based on its impressive first quarter 2014 results. Adjusted earnings outpaced the Zacks Consensus Estimate driven by significant improvement across both Electronic Brokerage and Market Making segments. However, these positives were partially offset by increase in expenses. Though the Market Making segment benefited from the prevalent volatility during the quarter, we remain skeptical about its sustainability. Nevertheless, high barriers to entry, strong liquidity position, better-than-peer positioning and technological excellence keep us optimistic.
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