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Fly News Breaks for November 28, 2018
CME
Nov 28, 2018 | 06:26 EDT
UBS analyst Alex Kramm downgraded CME Group to Neutral while raising his price target for the shares to $204 from $185. He believes the current valuation already reflects a higher volatility environment. With the shares up over 30% year-to-date and at the high end of its historical range with the S&P 500, the analyst says he "cannot ignore tough comps in 2019 and the potential for the NEX integration to create some noise in the near term." As such, he prefers waiting for better entry point into CME shares.
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