UBS on CME Group (CME): Core Strong, But Cutting Numbers on Near-Term Volume Issues
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Price: $269.70 +0.93%
Rating Summary:
13 Buy, 11 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
13 Buy, 11 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Buy' on CME Group (NASDAQ: CME) price target lowered from $330 to $300.
Analyst, Alex Kramm, said, "We continue to have a positive fundamental view of CME following 1Q12 results. While the current volume environment represents a major headwind (see estimate cuts below), secular growth drivers remain firmly intact: non-US volumes continue to increase, new products are adding to the bottom line, and the company is well positioned for OTC derivatives opportunities. While near-term upside could be limited, we believe current levels represent an attractive entry point at a cyclical low. A peer-group leading dividend provides valuation support at the same time."
Citiing reduced volumes, Kramm lowers FY12 EPS estimate from $18.01 to $16.25
and FY13 $21.10 to $19.26.
For an analyst ratings summary and ratings history on CME Group click here. For more ratings news on CME Group click here.
Shares of CME Group closed at $274.00 yesterday.
Analyst, Alex Kramm, said, "We continue to have a positive fundamental view of CME following 1Q12 results. While the current volume environment represents a major headwind (see estimate cuts below), secular growth drivers remain firmly intact: non-US volumes continue to increase, new products are adding to the bottom line, and the company is well positioned for OTC derivatives opportunities. While near-term upside could be limited, we believe current levels represent an attractive entry point at a cyclical low. A peer-group leading dividend provides valuation support at the same time."
Citiing reduced volumes, Kramm lowers FY12 EPS estimate from $18.01 to $16.25
and FY13 $21.10 to $19.26.
For an analyst ratings summary and ratings history on CME Group click here. For more ratings news on CME Group click here.
Shares of CME Group closed at $274.00 yesterday.
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