Bats Shares Defy Exchange Owner’s Strikeout With Analysts
Bats Global Markets Inc. posted one of this year’s biggest gains among U.S. initial public offerings with almost no help from analysts. Keefe, Bruyette & Woods Inc. is the only one of 12 securities firms following the exchange owner to recommend buying the stock, according to data compiled by Bloomberg. RBC Capital Markets today joined Raymond James Financial Inc. with the equivalent of a sell rating. RBC started coverage after Bats rose 45 percent from its IPO price through Monday.