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Investing.com - Keefe, Bruyette & Woods initiated coverage on Miami International Holdings (NYSE:MIAX) with a Market Perform rating and a price target of $37.00 on Monday.
The research firm noted that MIAX has established itself as the second largest multi-list options exchange in the U.S. by revenue, achieving significant market share gains over the past decade. InvestingPro data shows impressive revenue growth of 19.63% in the last twelve months, with total revenue reaching $1.25 billion.
KBW identified several potential catalysts for MIAX, including the single-stock 0DTE opportunity that could boost industry volume forecasts and the opening of its Miami floor this month, which may drive further market share gains.
The firm also highlighted MIAX’s clean balance sheet, which provides flexibility for capital deployment in the coming years.
Despite these positive factors, KBW pointed to the stock’s strong performance since its IPO—trading 54% above its initial price of $23 and 78% above the mid-point of its initial filing range—as a reason for the neutral stance, with its sum-of-the-parts valuation showing only modest upside potential of approximately 4%.
In other recent news, Miami International Holdings has caught the attention of major financial firms with new analyst coverage. Piper Sandler has initiated coverage on the company with an Overweight rating, setting a price target of $39.00. Similarly, Morgan Stanley has also initiated coverage with an Overweight rating, but with a slightly higher price target of $42.00. According to Morgan Stanley, the stock has a 17% upside potential with a favorable risk-reward profile, suggesting a possible 67% upside in a bull case scenario. The firm also noted a more limited downside risk of 47% in a bear case scenario. These developments highlight growing interest in Miami International Holdings from the financial analyst community. Both firms’ ratings reflect optimism about the company’s future prospects.
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