Argus Research Co. analyst Kevin Heal initiated coverage of MarketAxess Holdings Inc. at "hold."
The company reported 17% revenue growth and 19% EPS growth in the second quarter. Heal expects the company to continue to grow as bond investors shift from traditional trading via phone and messaging to electronic exchange-based transactions.
He views the strong trading volumes and gains in pricing as catalysts for further growth.
His EPS estimates are $5.31 for 2019 and $5.66 for 2020.
