
I rate StoneX Group a Buy with a $59.81 target by September 2027, reflecting a 13.2% upside from current levels. SNEX's 43.0% share price drop has already priced in the fading metals boom but not higher forward rates or the benefits of the RJO acquisition. My base case assumes a 16.2% ROE and 23% book value growth, with upside driven by higher rates and integration synergies.










