Financials

Financial Exchanges & Data

12 companies under coverage.

Coverage

Financial Exchanges & Data

Virtu Financial, Inc. (VIRT)

BUY. 12-month probability-weighted target $67 (+16% vs spot). P/E Multiple explains 70% of Monte Carlo outcome variance.

VIRTEquity ResearchMonte Carlo

11 October 2026Rating: BUY · Fair value vs price +19.3%

Equity Research

MarketAxess Holdings Inc (MKTX)

HOLD. 12-month probability-weighted target $168 (+2% vs spot). P/E Multiple explains 84% of Monte Carlo outcome variance.

MKTXEquity ResearchMonte Carlo

11 October 2026Rating: HOLD · Fair value vs price +3.9%

Equity Research

S&P Global Inc (SPGI)

HOLD. 12-month probability-weighted target $391 (-4% vs spot). P/E Multiple explains 85% of Monte Carlo outcome variance.

SPGIEquity ResearchMonte Carlo

10 October 2026Rating: HOLD · Fair value vs price -6.2%

Equity Research

Moodys Corporation (MCO)

HOLD. 12-month probability-weighted target $450 (-3% vs spot). P/E Multiple explains 87% of Monte Carlo outcome variance.

MCOEquity ResearchMonte Carlo

10 October 2026Rating: HOLD · Fair value vs price -10.5%

Equity Research

MSCI Inc (MSCI)

HOLD. 12-month probability-weighted target $542 (-4% vs spot). P/E Multiple explains 89% of Monte Carlo outcome variance.

MSCIEquity ResearchMonte Carlo

10 October 2026Rating: HOLD · Fair value vs price -15.6%

Equity Research

Morningstar Inc (MORN)

SELL. 12-month probability-weighted target $170 (-17% vs spot). P/E Multiple explains 69% of Monte Carlo outcome variance.

MORNEquity ResearchMonte Carlo

10 October 2026Rating: SELL · Fair value vs price -16.7%

Equity Research

FactSet Research Systems Inc (FDS)

SELL. 12-month probability-weighted target $232 (-19% vs spot). P/E Multiple explains 81% of Monte Carlo outcome variance.

FDSEquity ResearchMonte Carlo

10 October 2026Rating: SELL · Fair value vs price -17.4%

Equity Research

Cboe Global Markets Inc (CBOE)

SELL. 12-month probability-weighted target $232 (-24% vs spot). P/E Multiple explains 84% of Monte Carlo outcome variance.

CBOEEquity ResearchMonte Carlo

10 October 2026Rating: SELL · Fair value vs price -19.2%

Equity Research

Nasdaq Inc (NDAQ)

SELL. 12-month probability-weighted target $80 (-14% vs spot). P/E Multiple explains 95% of Monte Carlo outcome variance.

NDAQEquity ResearchMonte Carlo

10 October 2026Rating: SELL · Fair value vs price -21.9%

Equity Research

Intercontinental Exchange Inc (ICE)

SELL. 12-month probability-weighted target $121 (-23% vs spot). P/E Multiple explains 95% of Monte Carlo outcome variance.

ICEEquity ResearchMonte Carlo

10 October 2026Rating: SELL · Fair value vs price -24.5%

Equity Research

CME Group Inc (CME)

SELL. 12-month probability-weighted target $214 (-24% vs spot). P/E Multiple explains 95% of Monte Carlo outcome variance.

CMEEquity ResearchMonte Carlo

10 October 2026Rating: SELL · Fair value vs price -26.9%

Equity Research

Coinbase Global Inc (COIN)

SELL. 12-month probability-weighted target $114 (-37% vs spot). Gross Margin explains 56% of Monte Carlo outcome variance.

COINEquity ResearchMonte Carlo

10 October 2026Rating: SELL · Fair value vs price -48.6%