Morgan Stanley Upgrades Nasdaq OMX Group Inc. (NDAQ) to Overweight, New Top Pick

Morgan Stanley analyst Michael Cyprys upgraded Nasdaq OMX Group Inc. (NASDAQ: NDAQ) from Equalweight to Overweight with a price target of $80.00 (from $59.00).

The analyst comments "Upgrade NDAQ to OW (from EW) and elevate to Top Pick (replacing BLK but remain OW). We're bullish on the transformation story at NDAQ as they shift to higher quality, recurring revenue streams which should support a reacceleration in the growth outlook and catalyze multiple expansion. SOTP valuation approach in the context of info services comps yields our $80 PT which offers 28% upside."

For an analyst ratings summary and ratings history on Nasdaq OMX Group Inc. click here. For more ratings news on Nasdaq OMX Group Inc. click here.

Shares of Nasdaq OMX Group Inc. closed at $62.14 yesterday.

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