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Fly News Breaks for December 8, 2015
CBOE
Dec 8, 2015 | 07:38 EDT
Barclays analyst Kenneth Hill downgraded CBOE Holdings to Underweight and lowered his price target to $59 from $61 on shares. Hill said CBOE is trading at a premium as investors expects a dramatic pickup in volatility. The analyst expects a smooth initial period of rate increases and is not expecting a lift in volatility, making a relative lackluster trading environment more likely for the fist half of 2016. Additionally, Hill said the COBE has seen a drop in multi-listed options contracts coming out of Q3 and has been slower to address the market share declines.
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