UPDATE: Wedbush Color on Investment Technology Group PT Increase

Wedbush, which lowered its PT on shares of Investment Technology Group ITG, is providing some color on the stock. “We believe that ITG is well positioned to benefit from a return of cash equity trading volumes to growth,” Wedbush writes. “Nevertheless, we believe volumes are likely to remain muted through 2011, tempering our expectations.” Investment Technology Group closed Tuesday at $13.69.