10 Stocks Firm Up Amid Cautious Trading

2. BGC Group Inc. (NASDAQ:BGC)

BGC Group rallied by 6.74 percent on Tuesday to close at $9.5 per share as investor sentiment was buoyed by Bank of America’s upgraded rating for the company.

On the same day, Bank of America gave BGC a “buy” rating and a price target of $16, which represented a 68-percent premium from its last closing price.

According to analyst Eli Abboud, BGC is the most overlooked Trump trade in diversified financials, adding that the company’s trading offerings, such as the new FMX Futures Exchange, stand to benefit from the Trump administration’s preference for deregulation.

“Despite BGC trading down post-election, we think an eased regulatory backdrop significantly accelerates FMX Futures’ ramp while the new administration’s agenda (bank deregulation, deficit spending, foreign policy) benefits trading volumes,” he said.