Summary
- Interactive Brokers is poised to accelerate its journey towards the founder's goal of 1% global population penetration.
- Strong retail account growth is likely to unlock long-term account mining potential.
- Inflation and volatility will help increase trading frequency.
- Increasing futures and options mix will improve per-trade commissions.
- A 10% PE re-rating applied to a conservative 25% discount on consensus estimates for FY22 yields an upside of 18.7%. Technical analysis shows upside potential, especially relative to S&P 500.
For further details see:
Interactive Brokers: Firing On Multiple Cylinders Of Growth