BUZZ-StoneX jumps after record Q4 profit

Reuters11-26
BUZZ-StoneX jumps after record Q4 profit

** Shares of financial services firm StoneX Group SNEX.O jump 7% to $89.92 in afternoon trading

** StoneX on late Monday posted record Q4 profit, driven by strong contributions in equities trading, prime brokerage and fixed income

** Meanwhile, Jefferies cuts StoneX PT to $99 from $116 as it sees lower trading volumes ahead and interest rate cuts that could pressure earnings

** Brokerage also sees integration risks from recent acquisitions

** Earlier this year, StoneX completed acquisition of futures brokerage R.J. O’Brien and investment banking firm Benchmark

** The two analysts covering the stock rate it "strong buy"; median PT $99, per data compiled by LSEG

** Up to last close, SNEX stock has risen 28.6% YTD

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com))

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