UBS Sees Nasdaq (NDAQ) Adding 30% to '13 Profit If NYSE (NYX) Bid is Successful (ICE)
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Rating Summary:
15 Buy, 13 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 10
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An analyst at UBS Monday morning suggested that Nasdaq (Nasdaq: NDAQ) could add as much as 30 percent to 2013 profits if its bid for NYSE Euronext (NYSE: NYX) goes through.
The UBS analyst also predicted that a deal between Nasdaq/ICE and the NYSE could add about 7 percent to Nasdaq's 2011 profit level. The analyst said, "the potential accretion is difficult to argue with... If the proposed Nasdaq-NYSE transaction goes through, upside could be material."
Shares of NYSE Euronext rose more than 12 percent on Friday as Nasdaq/ICE disclosed the counter offer to Deutsche Boerse's $9 billion offer.
NYX shares are down another 1.8 percent to $38.87 Monday. Nasdaq shares are also lower, now down 2 percent to $27.68.
The UBS analyst also predicted that a deal between Nasdaq/ICE and the NYSE could add about 7 percent to Nasdaq's 2011 profit level. The analyst said, "the potential accretion is difficult to argue with... If the proposed Nasdaq-NYSE transaction goes through, upside could be material."
Shares of NYSE Euronext rose more than 12 percent on Friday as Nasdaq/ICE disclosed the counter offer to Deutsche Boerse's $9 billion offer.
NYX shares are down another 1.8 percent to $38.87 Monday. Nasdaq shares are also lower, now down 2 percent to $27.68.
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