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The $6 Billion Reason MarketAxess Stock Is Up Today
['Wajeeh Khan', 'July', 'Min Read']
Yahoo Finance
Bullish - green stock market chart with arrow up day trade by Quality Stock Arts via ShutterstockMarketAxess (MKTX) ripped higher today after financial services giant Intercontinental Exchange (ICE) announced a definitive agreement to acquire it for about $6 billion in cash.
Even after the meteoric rally, MarketAxess stock remains down nearly 17% versus its year-to-date high.
More News from BarchartWhy Is ICE Paying a Heavy Premium for MKTX Stock?
With MarketAxess currently hovering around $163, the stock sits within 2.5% of the buyout price.
Wall Street's View on MarketAxess HoldingsHeading into Thursday, Wall Street firms had a consensus "Hold" rating on MarketAxess, with a mean price target of about $141.