Erste Group Downgrades CBOE Holdings (CBOE) to Hold
Erste Group analyst Hans Engel downgraded CBOE Holdings (NYSE: CBOE) from Buy to Hold.
The analyst comments "The outlook for the company's sales and earnings growth is generally positive. However, we expect growth momentum to slow in the coming quarters. One important reason for this forecast is the significant fall in volatility on the equity and bond markets. As a result, trading volumes should have a downward trend over the next few quarters, with a dampening effect on CBOE Group's revenue growth. Following the current slowdown, the stock price should therefore only see a moderate upward trend in the medium term."
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Shares of CBOE Holdings closed at $286.03 yesterday.