Goldman Sachs: Buy NASDAQ, Sell NYSE

From 247WallSt

Goldman Sachs has a research call this morning on exchanges and a financial player this morning. Goldman Sachs is raising its views on the NASDAQ Stock Market, Inc. (NASDAQ: NDAQ): raised rating to BUY from NEUTRAL; raised EPS target from $1.20 to $1.25 and raised next fiscal year EPS from $1.75 to $1.88.

There were Downgrades in the Group: Cut NYSE Euronext (NYSE: NYX) to SELL from Neutral; downgrades both GFI Group (NASDAQ: GFIG) and CBOT Holdings Inc. (NYSE: BOT) from Buy ratings down to NEUTRAL.

Goldman is even doing this as a PAIRS TRADE as a BUY NDAQ and SELL NYX based on the implementation of REG NMS in July, which Goldman Sachs expects to pressure market share and pricing at the NYSE and its high margin ARCA business. Goldman is now less concerned about pricing pressure at NASDAQ; and is more optimistic about positive catalysts ahead, such as market share gains and a potential acquisition in derivatives.

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