Morgan Stanley upgrades MarketAxess to 'overweight' rating

Morgan Stanley upgrades bond trading platform MarketAxess MKTX.O to "overweight" from "equal weight" rating

Brokerage says rising recession risks could increase corporate bond trading volumes as investors rotate their portfolio to manage risk

Morgan Stanley adds that market volatility could lead to increased trading activity and greater appreciation for MKTX's All-to-All liquidity pool, boosting its volumes and increasing its market shares

Five of 14 brokerages rate the stock "buy" or higher, 8 "hold" and one "sell"; their median PT is $225 — LSEG data

As of last close, stock down ~8.8% YTD