Interactive Brokers (IBKR) shares rose 3.8% in late trading Monday. Wolfe Research initiated coverage of the firm with an Outperform rating. Analyst Steven Chubak set a price target of $101. This target implies a 20% upside from the previous closing price.
The positive outlook reflects the company's global footprint and ability to generate high-margin growth. Wolfe Research noted that Interactive Brokers has already absorbed the costs associated with its international expansion. The firm projects sustainable long-term account growth of 25%.