Gabelli Has Buy on Interactive Brokers Group

Gabelli & Co. is out with a research report on Interactive Brokers Group (NASDAQ: IBKR) and it has a Buy rating on shares.

In a note to clients, Gabelli & Co. writes, "We are raising our 2011E and 2012P EPS estimates to $1.40 and $1.50, from $1.15 and $1.10 respectively, following strong 3Q performance. We continue to believe that IBG is well positioned to grow rapidly due to its global footprint and the positive secular tailwinds of exchange based trading."

Shares of IBKR gained 16 cents yesterday to close at $15.38.