Citi analysts raised their rating for Virtu Financial (NASDAQ:VIRT) from Neutral to Buy with a $20.00 price target. This upgrade comes after Virtu's stock dropped by more than 8% on Wednesday due to an SEC lawsuit filed on September 12.

The analysts believe the market's response was excessive, citing previous cases like ITG, which settled for $20 million, as manageable precedents.

The analysts noted that there were no adverse client reactions to the SEC case and view the current stock weakness as an attractive opportunity, drawing on past experiences with regulatory news.