Nasdaq OMX Group Inc. (NDAQ) PT Raised to $95 at Citi

Citi analyst Chris Allen raised the price target on Nasdaq OMX Group Inc. (NASDAQ: NDAQ) to $95.00 (from $80.00) while maintaining a Neutral rating.

The analyst comments "NDAQ has been the best performing exchange over the last 3 months (up ~33%), driven by equity market strength and improving market sentiment, which have been tailwinds for the index and trading businesses. Also, an improving capital markets backdrop points to positive signals (albeit longer-term) for a number of businesses. With volatility moderating, mgmt has noted they have seen a normalization in client conversations, which were previously experiencing delays given the market uncertainty. But while the capital markets backdrop has improved, they are still seeing some delays on the capital raising side from the larger corporates. Overall, while the near-term outlook seems to be improving and we remain constructive on the long-term story, we see a balanced risk/reward at current levels and prefer to wait for a more attractive entry point."

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