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Fly News Breaks for December 16, 2019
CBOE
Dec 16, 2019 | 07:45 EDT
Credit Suisse analyst Ari Ghosh initiated coverage of Cboe Global Markets with a Neutral rating as part of his broader research note on the U.S. Exchanges sector. In a research note to investors, Ghosh says he believes the exchange industry is positioned for long-term growth driven by secular tailwinds benefiting its transactional, data, and technology businesses. While the group is trading at a 9% premium to its 7-year average relative to S&P 500, Ghosh says he expects accelerating volume growth, solid data demand, operating margin expansion and investor preference for counter-cyclicals to drive stock prices and support valuation levels in 2020.
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