Market Overview

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

Share:
Related FXCM
FXCM To Forgive 90% Of Clients With Negative Balances
Citi Ignores FXCM Buyout Rumors, Says Challenges Ahead
InsiderInsights.com Daily Round Up 1/30/15: FXCM, RYAM, CAS, SNCR (Seeking Alpha)

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
Jan 2015Keefe Bruyette & WoodsUpgradesUnderperformMarket Perform
Jan 2015Sidoti & Co.DowngradesBuyNeutral
Jan 2015JP MorganDowngradesOverweightNeutral

View More Analyst Ratings for FXCM
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (FXCM)

Around the Web, We're Loving...

Get Benzinga's Newsletters