Goldman Sachs Removes NYSE Euronext (NYX) From Conviction Buy List, Ups Price Target
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Price: $45.29 --0%
Rating Summary:
4 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Goldman Sachs removed NYSE Euronext (NYSE: NYX) from its Conviction Buy list following news the company is in advanced merger talks with Deutsche Boerse AG. The firm maintained their Buy rating.
The firm raised their price target form $38 to $42 and are factoring in a 30% likelihood of M&A.
The firm notes that "over the past decade, exchange transactions have been at roughly 25-33X trailing 12-month net income, and 7-8X trailing revenue, although we note the proposed TMX/LSE and SGX/ASX deals are at 25-26X trailing net income."
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 $38.10 yesterday.
The firm raised their price target form $38 to $42 and are factoring in a 30% likelihood of M&A.
The firm notes that "over the past decade, exchange transactions have been at roughly 25-33X trailing 12-month net income, and 7-8X trailing revenue, although we note the proposed TMX/LSE and SGX/ASX deals are at 25-26X trailing net income."
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 $38.10 yesterday.
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