BofA/Merrill Lynch Downgrades CBOE Holdings (CBOE) to Neutral

BofA/Merrill Lynch downgraded CBOE Holdings (NASDAQ: CBOE) from Buy to Neutral with a price target of $63.00 (from $68.00) on lighter volume trends.

Analyst Michael Carrier cut EPS estimates by 6% as volumes have been coming in lighter than trends. The firm sees limited upside as a result.

The firm cut FY 2015 EPS from $2.60 to $2.45, FY 2016 EPS from $3.20 to $3.00 and FY 2017 from $3.96 to $3.69.

For an analyst ratings summary and ratings history on CBOE Holdings click here. For more ratings news on CBOE Holdings click here.

Shares of CBOE Holdings closed at $60.85 yesterday.

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