Wells Fargo Thinks Nasdaq OMX (NDAQ) is Cheap

April 9, 2013 11:06 AM EDT
Get Alerts NDAQ Hot Sheet
Price: $67.36 +0.45%

Rating Summary:
    13 Buy, 10 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade NDAQ Now!
Join SI Premium – FREE
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.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Wells Fargo

Add Your Comment