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

Related FXCM
Falling Earnings Estimates Signal Weakness Ahead for FXCM (FXCM) - Tale of the Tape
Earnings Scheduled For May 8, 2014

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
Sep 2014BarclaysMaintainsOverweight
Aug 2014CitigroupMaintainsNeutral
Aug 2014Credit SuisseMaintainsOutperform

View More Analyst Ratings for FXCM
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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