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UPDATE: Atlantic Equities Upgrades CME Group (CME) to Overweight

June 10, 2022 5:09 AM EDT
Get Alerts CME Hot Sheet
Price: $202.15 +1.06%

Rating Summary:
    12 Buy, 12 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 53 | New: 12
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(Updated - June 10, 2022 7:20 AM EDT)

Atlantic Equities analyst Simon Clinch upgraded CME Group (NASDAQ: CME) from Neutral to Overweight with a price target of $235.00.

The analyst comments "We are upgrading CME to Overweight and retaining our target price of $235, offering a total return of more than 20%. This follows a pullback in the stock's valuation despite having the strongest fundamental backdrop of the US exchanges. In this report we also review May exchange volumes, where cash equities and options delivered upside to our expectations, while derivatives volumes were more mixed. We make some modest changes to our estimates for Intercontinental and Nasdaq, where we reiterate our Overweight ratings and price targets of $120 and $190 respectively. Our adjusted EPS estimates for MarketAxess come down by about 2% for FY22 through FY24, and we reiterate our Neutral rating while lowering our target price by 10% to $306. Our adjusted EPS estimates for CME come down by 2.3% and 1.6% for FY22 and FY23, but our FY24 estimate rises by 3.2%. Our estimates remain above consensus."

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 $197.93 yesterday.


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