Market Overview

UPDATE: BGB Securities Initiates FXCM at Buy on Risk/Reward

Related FXCM
UPDATE: Keefe, Bruyette & Woods Initiates Coverage On FXCM As Risks Are Not Fully Reflected
Credit Suisse Anticipates A Record-Setting September Report From FXCM Inc

BGB Securities initiated coverage on FXCM (NYSE: FXCM) with a Buy rating and a $11 price target.

BGB Securities commented, "We view FXCM as a way to gain access to an eventual macro recovery with limited downside in the interim accorded by maneuverability FXCM's smaller size affords. While currency volatility remains muted and, related, FX transaction volume activity under pressure, the smaller company can effect meaningful growth through alternative means. Cost cutting, customer acquisition and M&A are expected to support growth of ~60% in 2013 compared to low single-digit growth for online broker peers. Growth should continue through a macroeconomic recovery that likely sparks increased currency volatility, supporting a resurgence in volume across a broadened platform."

FXCM closed at $9.96 on Tuesday.

Latest Ratings for FXCM

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

View More Analyst Ratings for FXCM
View the Latest Analyst Ratings

Posted-In: BGB SecuritiesAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (FXCM)

Around the Web, We're Loving...

Get Benzinga's Newsletters