We recently published These 10 Stocks Surprisingly Lead Gains While Wall Street Naps. Interactive Brokers Group, Inc. (NASDAQ:IBKR) is one of this week’s top performers.
Interactive Brokers jumped by 7.77 percent on Friday to close at $64.05 apiece as investors took heart from two analysts’ higher price target for its stock following an impressive earnings performance in the second quarter of the year.
In a market note after the earnings results, BofA Securities raised Interactive Brokers Group, Inc. (NASDAQ:IBKR) to $71 from $69 previously and reaffirmed its “buy” recommendation for its stock. The new figure represents a 10.8-percent upside from its latest closing price.
For its part, Citi upgraded its stock price to $65 from $60, but maintained a “neutral” rating.
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The analyses followed Interactive Brokers Group, Inc.’s (NASDAQ:IBKR) strong earnings during the quarter on the back of an expansion in net interest income, with net income attributable to shareholders ending at $224 million, or 25 percent higher than the $179 million registered in the same period last year.
Total revenues increased by 20 percent to $1.48 billion from $1.23 billion year-on-year.
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Disclosure: None. This article is originally published at Insider Monkey.
