UPDATE: Stifel Nicolaus Downgrades Interactive Brokers Group to Hold on Weakening Core Brokerage Metrics

Stifel Nicolaus reduced its rating from Buy to Hold on Interactive Brokers Group

and suspended its $30 price target. Stifel Nicolaus said, "We are downgrading shares of IBKR to Hold from Buy on the expectation of weaker core growth metrics in the electronic brokerage segment. Growth trends in new accounts and DARTs in the brokerage have decelerated, and while market making conditions have improved modestly in 2Q, this highly unpredictable earnings stream continues to be discounted by investors. As such, with P/E being largely driven by the outlook for e-brokerage, we see limited upside to the valuation from current levels." Interactive Brokers Group closed at $14.66 on Monday.