Forge Global rises after Piper Sandler rating upgrade

Shares of private market platform Forge Global FRGE.N up 3.5% at $15

Piper Sandler upgrades FRGE's rating to "overweight" from "neutral"

Brokerage believes FRGE is well positioned to benefit from the increasing focus on private markets, given its industry leading trading & data offering

A relatively small increase in private market turnover could drive meaningful transaction revenue growth for FRGE — Piper

Recently announced high-profile data partnerships should result in more fee-based and recurring revenue streams for FRGE in the longer term — brokerage

FRGE has risen about 4% YTD, as of last close