UPDATE: JP Morgan Maintains FXCM at Overweight, FX Trading More Mainstream For Retail Investors

In a report published by JP Morgan, analyst Kenneth B. Worthington maintained his Overweight rating and $16 price target on FXCM

. JP Morgan reported that, “Back from travels we catch up with FXCM that reported 4Q EPS of $0.13 last week, missing our estimate by a penny. While 4Q results were expectedly weak given a depressed FX environment, trading activity has picked up in 1Q with FXCM reporting its best ever monthly retail ADV of $17.9bn in February. While 4Q expenses were higher than expected, mgmt commentary suggests an outlook for expense control going forward as merger integrations and some declining discretionary costs will partially offset the incremental costs from Lucid.” Shares of FXCM closed at $14.07 on Monday.