UBS Maintains a 'Buy' on NYSE Euronext (NYX); Cutting Numbers on Tough Environment

May 1, 2012 12:54 PM EDT
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Price: $45.29 --0%

Rating Summary:
    5 Buy, 11 Hold, 2 Sell

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Today's Overall Ratings:
    Up: 7 | Down: 9 | New: 1
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UBS maintains a 'Buy' on NYSE Euronext (NYSE: NYX) price target lowered from $38 to $35.

Analyst, Alex Kramm, said, "We believe the weakness was driven by a combination of a headline EPS miss, surprise about a slowdown in the company’s technology business (particularly after a positive tone at the recent investor day), and the prospect of significant estimate cuts given continued volume weakness. We continue to believe that NYX shares offer significant upside potential once investors start discounting the benefits of incremental cost cuts and share buybacks. Nevertheless, with limited catalysts on the horizon, we believe the shares could remain range-bound in the near-term."

FY12 EPS estimate cut from $2.46 to $2.20 and FY13 from $3.14 to $2.86.

For an analyst ratings summary and ratings history on NYSE Euronext click here. For more ratings news on NYSE Euronext click here.

Shares of NYSE Euronext closed at $25.75 yesterday.

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