Nasdaq's (NDAQ) eSpeed Deal has Trade-Offs for Investors - Jefferies

April 2, 2013 8:21 AM EDT
Get Alerts NDAQ Hot Sheet
Price: $67.32 -0.06%

Rating Summary:
    13 Buy, 10 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Jefferies has a muted view on Nasdaq OMX Group's (NASDAQ: NDAQ) deal after the close to acquire U.S. Treasuries trading platform eSpeed from BGCP for $750 million.

"This represents a new market for NDAQ and has the potential to be a growth driver in future periods," the analyst comments. "However, as a result of the deal the company's buyback program will be curtailed for at least twelve months and the transaction is only modestly accretive in the first year."

The firm maintained a Hold rating and price target of $28.00

For an analyst ratings summary and ratings history on Nasdaq OMX Group Inc. click here. For more ratings news on Nasdaq OMX Group Inc. click here.

Shares of Nasdaq OMX Group Inc. closed at $32.01 yesterday.

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