Jefferies Maintains a 'Hold' on Nasdaq OMX Group (NDAQ); CEO Meetings Echo Steady Return of Capital in Short Term

Jefferies maintains a 'Hold' on Nasdaq OMX Group Inc. (NASDAQ: NDAQ) price target of $27.00.

Jefferies analyst says, "Earlier this week we spent time with Nasdaq OMX's CEO Bob Greifeld. The company's recently announced $300M share repurchase program will be the primary use of excess cash flow in the near term and will likely be deployed over the next 2-3 qtrs. With limited top line growth opportunities, this capital deployment should provide adequate support for the shares...For 3Q, we now anticipate EPS of $0.65, up from $0.64 previously, while our 4Q estimate remains unchanged. For 2012, we are increasing our estimate by $0.10 to $2.85."

For more ratings news on Nasdaq OMX Group Inc. click here and for the rating history of Nasdaq OMX Group Inc. click here.

Shares of Nasdaq OMX Group Inc. closed at $25.37 yesterday.

---

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

---

You May Also Be Interested In

• Jefferies Starts LunR Royalties Corp (LUNR:CN) at Buy
• Jefferies Starts Eldorado Gold Corp (EGO) at Buy
• HSBC Downgrades Gerdau S.A. (GGBR4:BZ) (GGB) to Hold