Wells Fargo Maintains a 'Market Perform' on NYSE Euronext (NYX); May Pay Special Dividend - Financial Flexibility Highlighted
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Price: $41.09 --0%
Rating Summary:
4 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 6
Rating Summary:
4 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 6
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Wells Fargo maintains a 'Market Perform' on NYSE Euronext (NYSE: NYX), valuation range $40-42.
Wells analyst says, "According to a story published by The Wall Street Journal, NYX is considering paying a special dividend to entice shareholders to vote for its proposed merger with Deutsche Bourse (DB1). In meetings with investors, NYX has highlighted the financial strength of the combined entities as a clear positive given the relatively low leverage of the combined firms. A special dividend by NYX would help to appease certain shareholder discontent in our view, which has been fueled by the Board’s recent rejection of a buyout offer from IntercontinentalExchange (NYSE: ICE) / Nasdaq (Nasdaq: NDAQ). We believe the low combined leverage of NYX and DB1 could also result in greater levels of capital return post merger."
For more ratings news on NYSE Euronext click here and for the rating history of NYSE Euronext click here.
Shares of NYSE Euronext closed at $38.26 yesterday, with a 52 week range of $26.42-$39.99.
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Wells analyst says, "According to a story published by The Wall Street Journal, NYX is considering paying a special dividend to entice shareholders to vote for its proposed merger with Deutsche Bourse (DB1). In meetings with investors, NYX has highlighted the financial strength of the combined entities as a clear positive given the relatively low leverage of the combined firms. A special dividend by NYX would help to appease certain shareholder discontent in our view, which has been fueled by the Board’s recent rejection of a buyout offer from IntercontinentalExchange (NYSE: ICE) / Nasdaq (Nasdaq: NDAQ). We believe the low combined leverage of NYX and DB1 could also result in greater levels of capital return post merger."
For more ratings news on NYSE Euronext click here and for the rating history of NYSE Euronext click here.
Shares of NYSE Euronext closed at $38.26 yesterday, with a 52 week range of $26.42-$39.99.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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