Interactive Brokers (IBKR) Gets 8% Upside from Higher Price Target, Impressive Earnings

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.

Interactive Brokers (IBKR) Gets 8% Upside from Higher Price Target, Impressive Earnings

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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.

While we acknowledge the risk and potential of IBKR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IBKR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.