Canaccord Genuity starts Aquis Exchange at 'buy'

Analysts at the Canadian broker labelled the firm a 'game changer' in the market exchange space, thanks to its focus on "price competitiveness, quality, transparency and accessibility driven by market-leading technology."

That, they argued, should support its "significant" growth potential after a 2020 that saw the exchange "come of age" with the acquisition of NEX Exchange, which was afterwards rebranded to Aquis Stock Exchange.

On their estimates, the exchange operator's revenues were set to grow at a compound annual growth rate of 28% between 2020-22, with earnings before interest, taxes, depreciation and amortisation seen 91% higher over the same timeframe.