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Fly News Breaks for January 10, 2020
NDAQ, MKTX, CBOE, ICE, CME
Jan 10, 2020 | 07:21 EDT
Jefferies analyst Daniel Fannon lowered his EPS estimates for the Brokers, Asset Managers and Exchanges group by 2% on average heading into Q4 earnings, stating that volumes were "generally subdued" and this lead to downward revisions for nearly all volume-driven products. Overall fundamentals remain generally positive and year-over-year comparisons improve in the first half, said Fannon, who names CME Group (CME) and IntercontinentalExchange (ICE) as his favorite ideas among the Exchanges. He lowered his price target on CME shares to $236 from $242 and raised his price target on IntercontinentalExchange to $109 from $108 while keeping Buy ratings on both stocks. He also raised his price target on CBOE (CBOE) shares to $115 from $112, raised his target for MarketAxess (MKTX) to $360 from $342 and bumped up his Nasdaq (NDAQ) target to $101 from $100, though he keeps Hold ratings on those three stocks.
News For CME;ICE;CBOE;MKTX;NDAQ From the Last 2 Days
ICE
May 19, 2022 | 07:04 EDT
Deutsche Bank analyst Brian Bedell lowered the firm's price target on IntercontinentalExchange to $117 from $143 and keeps a Buy rating on the shares. More buying opportunities are emerging in the brokers, asset managements and exchange sector amid the equity market decline, Bedell tells investors in a research note. The stocks are pricing in an estimated 55% chance of recession, making the risk/return for 12-18 month holding periods across much of the group "very attractive," says the analyst.
NDAQ
May 19, 2022 | 07:03 EDT
Deutsche Bank analyst Brian Bedell lowered the firm's price target on Nasdaq to $184 from $207 and keeps a Buy rating on the shares. More buying opportunities are emerging in the brokers, asset managements and exchange sector amid the equity market decline, Bedell tells investors in a research note. The stocks are pricing in an estimated 55% chance of recession, making the risk/return for 12-18 month holding periods across much of the group "very attractive," says the analyst.
MKTX
May 19, 2022 | 07:03 EDT
Deutsche Bank analyst Brian Bedell lowered the firm's price target on MarketAxess to $270 from $300 and keeps a Hold rating on the shares. More buying opportunities are emerging in the brokers, asset managements and exchange sector amid the equity market decline, Bedell tells investors in a research note. The stocks are pricing in an estimated 55% chance of recession, making the risk/return for 12-18 month holding periods across much of the group "very attractive," says the analyst.
CBOE
May 19, 2022 | 07:02 EDT
Deutsche Bank analyst Brian Bedell lowered the firm's price target on Cboe Global Markets to $131 from $145 and keeps a Buy rating on the shares. More buying opportunities are emerging in the brokers, asset managements and exchange sector amid the equity market decline, Bedell tells investors in a research note. The stocks are pricing in an estimated 55% chance of recession, making the risk/return for 12-18 month holding periods across much of the group "very attractive," says the analyst.