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Wells Fargo Thinks Nasdaq OMX (NDAQ) is Cheap

April 9, 2013 11:06 AM EDT Send to a Friend
Get Alerts NDAQ Hot Sheet
Price: $43.86 -0.25%

Rating Summary:
    10 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 16 | Down: 14 | New: 38
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Wells Fargo today reiterated an Outperform rating on Nasdaq OMX Group Inc. (NASDAQ: NDAQ) with a modified price target of $34 to $38 (from $38 to $42). Analysts said they view shares as inexpensive, especially in light of the recent sell-off.

Analyst Christopher Harris said, "The stock currently trades at 9.7x our revised 2014 EPS estimate ($3.00). For perspective, that compares to a 15.9x average multiple for NDAQ’s U.S. exchange peers and is well below other peers."

"While we recognize that NDAQ could be in the investor 'penalty box' for a period of time, a 2.5x discount to cash/ market making focused peers seems a bit extreme to us," added Harris.

For an analyst ratings summary and ratings history on Nasdaq OMX Group Inc. (NASDAQ: NDAQ) click here. For more ratings news on Nasdaq OMX Group Inc. click here.

Shares of Nasdaq OMX Group Inc. closed at $29.00 yesterday.

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