Barclays downgrades Cboe to to Equal Weight into challenging comps

Barclays downgraded Cboe Global Markets (CBOE) to Equal Weight from Overweight with a price target of $220, down from $230. The company is facing increasingly challenging compares and the shares are trading near peak multiples from the last five years, the analyst tells investors in a research note. The firm sees minimal upside for Cboe in terms of margins, and says the stock’s valuation is “quite fair.”