BUZZ-BGC Group rises after BofA starts coverage with 'buy'

Reuters02-25

** Shares of brokerage firm BGC Group BGC.O rise as much as 7.5%; last up 6% at $9.43 in early trading

** BofA Global Research initiates coverage of BGC with "buy" rating and $16 PT, 79.8% upside to stock's last close

** Brokerage says easing regulatory backdrop under Trump administration significantly accelerates ramp up of BGC's FMX Futures Exchange

** Adds that FMX Futures could achieve as much as 20% share in rates trading by Q4 2027

** Brokerage says FMX has ample opportunity to modernize futures trading and take market share from incumbent CME Group CME.O

** BofA says growth qualities of BGC's energy segment are underrated, adding that firm has highest exposure to energy transition products in its coverage

** As of last close, BGC stock down 1.8% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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