Jefferies Says Better Days Ahead for CME Group (CME)
Tweet
Share
E-mailGet Alerts CME Hot Sheet
Price: $267.88 -0.71%
Rating Summary:
13 Buy, 11 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
13 Buy, 11 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Join SI Premium – FREE
Jefferies maintained a Buy rating on CME Group (NASDAQ: CME) and raised its price target to $65.00 (from $60.00).
"Last week we spent several days with the management team of CME Group. The focus of the meetings centered around OTC clearing and execution initiatives and the globalization of CME's products, all of which represent potential offsets to the current lackluster environment for trading," said analyst Daniel T. Fannon.
"While the current volume environment remains challenging and close to cyclical lows (particularly interest rate and equities), the opportunity set from both the 'globalization and futurization' of CME’s existing product set is likely to set the stage for the next wave of growth," said Fannon.
Fannon thinks as we get closer to the first clearing deadline for Dodd-Frank in Feb 13, OTC clearing volumes will begin to accelerate.
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 $57.29 yesterday.
"Last week we spent several days with the management team of CME Group. The focus of the meetings centered around OTC clearing and execution initiatives and the globalization of CME's products, all of which represent potential offsets to the current lackluster environment for trading," said analyst Daniel T. Fannon.
"While the current volume environment remains challenging and close to cyclical lows (particularly interest rate and equities), the opportunity set from both the 'globalization and futurization' of CME’s existing product set is likely to set the stage for the next wave of growth," said Fannon.
Fannon thinks as we get closer to the first clearing deadline for Dodd-Frank in Feb 13, OTC clearing volumes will begin to accelerate.
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 $57.29 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- York Space Systems (YSS) PT Lowered to $15 at Jefferies
- Freedom Broker Upgrades PrimeEnergy Resource (PNRG) to Hold
- Central Retail Corp PCL (CRC:TB) PT Lowered to THB9,000 at Macquarie
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT ChangeRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
