Miami International Holdings Inc ( MIAX ) raised $345 million in its U.S. initial public offering in mid-August.

Here are some analysts who began coverage of the stock.

Rosenblatt Securities analyst Chris Brendler initiated coverage with a Buy rating and price target of $50.

JPMorgan analyst Kenneth Worthington began coverage with a Neutral rating and a price target of $32.

Check out other analyst stock ratings.

Rosenblatt Securities: Miami International ( MIAX ) is "reinventing the US options market" and its market share has expanded from 7% in 2015 to 16% in 2025, since its competitors has held back by their "legacy technology and less flexible corporate structures," Brendler said in his initiation note. The company reached 17% market share last quarter, driven by its innovations, relationships with leading market makers, and secular tailwinds, he added.

"In our view, the company’s remarkable success has been due to a combination of superior technology, product innovation, and market tailwinds — all of which we expect to continue," the analyst wrote. Several factors can help the company sustain around 20% revenue growth and substantial margin expansion, he further stated.

JPMorgan: Miami International ( MIAX ) has built a leading "multi-listed options exchange" from scratch and has leveraged price and technology to gain share in a highly competitive market, Worthington said. The company is also investing in futures, proprietary options, equities, and cryptocurrencies, he added.

Industry option volumes have grown at a CAGR (compounded annual growth rate) of 15% over the last five years and this trend could continue, the analyst stated. While Miami International's ( MIAX ) margins have been lower than peers, there are opportunities to improve profitability as the company scales, he further commented.

MIAX Price Action: Shares of Miami International Holdings ( MIAX ) had risen by 1.10% to $35.38 at the time of publication on Monday.

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