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UPDATE: Citigroup Downgrades FXCM to Buy on Earnings Outlook and Market Risk

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Citigroup reduced its ration on FXCM (NYSE: FXCM) from Buy to Neutral and lowered its price target from $14.50 to $10.

Citigroup noted, "From Buy to Neutral to reflect: 1) lower earnings outlook – reflecting both reduced legacy business prospects + lower Lucid deal accretion; and, 2) lower target multiple, the latter owing to adverse mix shift. Our prior thesis of acquisition-led growth seems misguided as EPS power is not shining through despite several deals, and the deal backdrop seems somewhat pushed out while deeper movement into market making business leaves us incrementally cautious."

FXCM closed at $10.16 on Thursday.

Latest Ratings for FXCM

DateFirmActionFromTo
May 2015Keefe Bruyette & WoodsMaintainsUnderperform
Mar 2015CitigroupMaintainsSell
Mar 2015Keefe Bruyette & WoodsDowngradesMarket PerformUnderperform

View More Analyst Ratings for FXCM
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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