Cboe Global Markets upgraded to Buy from Neutral at Citi » 06:1204/0304/03/20
Citi analyst Ben Herbert…
Citi analyst Ben Herbert upgraded Cboe Global Markets (CBOE) to Buy from Neutral with a price target of $106, down from $122. Despite lower earnings revisions, the analyst views the U.S. Exchanges space as most attractive on a valuation basis since 2017. Earnings durability looks more compelling at Cboe and IntercontinentalExchange (ICE), Herbert tells investors in a research note. The analyst believes the sector is characterized by "secure" strategic positioning, high margins, cash generation and strong balance sheets.
|Over a week ago|
Cboe Global Markets launches business continuity webpage » 16:1803/1903/19/20
Cboe Global Markets…
Cboe Global Markets launched a webpage detailing its Business Continuity Plans amid the developing novel coronavirus situation. Cboe's top priority remains the well-being and safety of its associates, customers and broader community. The company continues to closely monitor the developments concerning COVID-19 and the guidance provided by governmental agencies, Centers for Disease Control and Prevention and the World Health Organization. All of Cboe's global markets remain open and orderly. Cboe's technology and operations teams continue to closely monitor trading. Any published updates related to the operation of Cboe's business and exchanges will be posted to the COVID-19 Business Continuity Plans webpage.
Cboe Global Markets to suspend open outcry trading on Chicago trading floor » 18:5503/1203/12/20
Cboe Global Markets…
Cboe Global Markets announced that it will temporarily close its Cboe Options Exchange trading floor at the close of business on Friday, March 13, as a precautionary measure to prevent the potential spread of the novel coronavirus. Trading on C1 will continue to be available in an electronic-only trading mode until further notice. This is a proactive measure and not in response to any confirmed cases of COVID-19. Cboe is closely monitoring developments around COVID-19 and is following guidance provided by governmental and public health agencies to evaluate reopening of its trading floor.
CBOE Holdings trading resumes 10:0403/1203/12/20
CBOE Holdings trading halted, volatility trading pause 09:5903/1203/12/20
Cboe Global Markets fundamentals still look good, says JPMorgan » 08:0803/0903/09/20
Cboe Global Markets has…
Cboe Global Markets has lagged other exchanges recently amid concerns about the "destructive nature" of higher volatility on VIX, as well as the pending launch of competing exchange MEMX on the company's equity volume and the SEC's attacks on exchange data, JPMorgan analyst Kenneth Worthington tells investors in a research note. However, the analyst thinks investors should focus more on Cboe's activity levels and leading indicators near term, "both of which look quite good." Cboe's volume growth is solid reflecting elevated volatility, and leading indicators remain solid with open interest trends improving across VIX and SPX products, says the analyst. He maintains an Overweight rating on Cboe Global Markets with a $132 price target.
|Over a month ago|
Cboe reports February average daily futures volume up 63.9% » 12:3803/0403/04/20
Cboe Global Markets…
Cboe Global Markets reported February monthly trading volume. Total futures average daily volume rose 63.9% versus last year while futures average daily volume rose 87.7%. Cboe's four options exchanges combined set a new all-time monthly average daily volume record with more than 11M contracts traded per day, the company said in a statement. The four options exchanges had the highest combined daily volume of all-time on Friday, February 28, with 16.65M contracts traded.
Cboe 'good defensive' near-term investment idea, says JPMorgan » 08:0603/0203/02/20
JPMorgan analyst Kenneth…
JPMorgan analyst Kenneth Worthington views Cboe Global Markets as a "good defensive" investment idea for the near term as a place to "hide out in elevated market volatility." The analyst increased the company's estimates to account for better trading volumes and keeps an Overweight rating on the shares with a $132 price target.
Cboe Global Markets upgraded to Neutral from Underperform at BofA » 06:1002/2802/28/20
BofA analyst Michael…
BofA analyst Michael Carrier upgraded Cboe Global Markets to Neutral from Underperform with a price target of $125, up from $110. The analyst cites the higher than expected trading volumes driven by the near-term macro uncertainty and believes that the company's higher earnings outlook, along with the defensive nature of its sector, will support a multiple expansion. Carrier adds that his upgrade assumes a forward earnings multiple of 26-times, up from 22-times, given his higher revenue and earnings growth outlook.
Cboe Global Markets upgraded to Neutral from Underperform at BofA » 06:0202/2802/28/20
BofA upgraded Cboe Global…
BofA upgraded Cboe Global Markets to Neutral from Underperform.