UPDATE: Argus Upgrades CME Group (CME) to Buy
Get Alerts CME Hot Sheet
Rating Summary:
11 Buy, 12 Hold, 5 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Join SI Premium – FREE
Argus analyst Stephen Biggar upgraded CME Group (NASDAQ: CME) from Hold to Buy with a price target of $230.00.
The analyst comments "We are raising rating on CME Group Inc. (NGS: CME) to BUY from HOLD and setting a price target of $230. We expect interest rate contract volume to increase as the Federal Reserve raises rates, and also look for steady growth in energy contract volume. In addition, we expect higher volume for agricultural contracts, newly launched cryptocurrency contracts, and new micro-contracts geared toward retail investors. We also expect the company to maintain strong cost controls. CME shares have risen strongly from their pandemic lows in March 2020 and are currently trading at 25-times our 2022 EPS estimate, at the midpoint of their five-year historical average range of 11-39 and near the peer average. Based on the current valuation and prospects for increased revenue due to market volatility, we believe that a BUY rating is now appropriate."
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 $200.10 yesterday.
You May Also Be Interested In
- BofA Securities Upgrades Estee Lauder (EL) to Buy; 'Earnings have bottomed'
- 4D Molecular Therapeutics (FDMT) PT Lowered to $63 at BMO Capital, 'uncertainty remains a lingering overhang until the PhIII readout'
- HSBC Upgrades Scor SE (SCR:FP) (SCRYY) to Buy, 'cheapest way to play the positive dynamics in reinsurance'
Create E-mail Alert Related Categories
Analyst Comments, Hot Upgrades, UpgradesRelated Entities
ArgusSign 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!