Market Overview

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

Related FXCM
Goldman Shows Revenue Growth & Cost Control; Should You Hold?
Events for the Week of Nov. 17-21, 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

Oct 2014Keefe Bruyette & WoodsInitiates Coverage onUnderperform
Oct 2014BarclaysMaintainsOverweight
Oct 2014Credit SuisseMaintainsOutperform

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