UBS Maintains a 'Buy' on CME Group (CME); Raising Estimates on Lower Costs/Buyback

UBS maintains a 'Buy' on CME Group (NASDAQ: CME), price target raised from $318 to $325.

UBS analyst says, "We continue to be highly optimistic about CME’s growth prospects from both a secular and cyclical perspective. From a secular perspective, the quarter reiterated strong growth in “newer” products, ancillary benefits from OTC initiatives (i.e. new customer generation), and continued globalization efforts. From a cyclical perspective, we believe the company remains well posi tioned to benefit from a rising interest environment and related volatility in the future. Lastly, we believe macroeconomic uncertainties could drive near-term volatility and volumes...Raising FY11E EPS to $17.24 from $16.72; FY12E to $20.31 from $19.52."

For more ratings news on CME Group click here and for the rating history of CME Group click here.

Shares of CME Group closed at $283.83 yesterday.

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