Virtu Financial falls after BofA Global Research downgrades to 'neutral'

Market maker Virtu Financial's VIRT.O shares fall 2% to $41.37 premarket

BofA Global Research downgrades VIRT to "neutral" from "buy"; maintains PT of $43, which is still 2% upside to stock's last close

Brokerage says it has become more concerned that volumes could experience meaningful decline in H2 2025

Says it is particularly concerned with retail channel where volumes could fade following investor losses YTD

Still, BofA is bullish on market makers long term, given they possess structural competitive advantages vs banks due to their technology and less burdensome regulatory treatment

3 of 9 brokerages rate VIRT stock "buy" or higher, 5 "hold" and 1 "sell"; median PT $43.50 - data compiled by LSEG

As of last close, stock up 18.3% YTD