Tradeweb hits over 6-month high on about $2 bln Trumid deal

** Tradeweb Markets TW.O shares advancing for fifth straight session and last up 3.1% at $118.26 on Tues after co said it will buy bond-trading platform Trumid for about $1.97 bln

** TW stock rises as much as 3.6% to $118.81, highest level since Apr 17

** The deal, expected to close in H1 2027, aims to expand TW's presence in US corporate bond markets and is expected to add to adjusted EPS in the first full year after closing

** Backed by venture capitalist Peter Thiel and investor George Soros, Trumid operates an electronic trading platform for US dollar-denominated corporate bonds, including investment-grade, high-yield, distressed debt, and emerging-market bonds

** TD Cowen, which has a 'hold' rating on TW, says in research note that Trumid creates a more robust competitor to the pending ICE ICE.N/MarketAxess MKTX.O platform, adding that the deal should also expand TW's client base, notably among dealers and hedge funds/quants, while providing ample cross-sell

** TW stock, which has roughly $25 bln market cap, has risen about 10% YTD, underperforming the Nasdaq's .IXIC nearly 14% gain

** 10 of 17 analysts rate the stock "strong buy" or "buy", 7 "hold"; median PT $122.39, per LSEG data