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JP Morgan upgrades Virtu Financial, says stock will rebound after rough year

Doug Cifu, CEO of Virtu Financial.
Adam Jeffery | CNBC

After a rough year for the company's stock, Virtu Financial has potential to rebound, according to J.P. Morgan.

The firm upgraded the financial services company's stock to an overweight rating from not rated with a December 2020 price target of $23. Virtu shares last traded around $18.80 per share.

Before a period of restriction, J.P. Morgan had a neutral rating on the stock and a December 2018 price target of $28.