Cboe Global Markets price target raised to $233 from $218 at Oppenheimer

Oppenheimer raised the firm’s price target on Cboe Global Markets (CBOE) to $233 from $218 and keeps an Outperform rating on the shares. The firm says the company printed a solid Q4 result, with adjusted operating income and adjusted EPS largely in line with expectations. A major surprise was that the Board and CEO Fredric Tomczyk announced that the company had engaged a search firm to look for the next CEO, considering both internal and external candidates. Longstanding reports of a possible merger with CME (CME) could be revived at this point, given Cboe’s perceived lack of strong revenue growth drivers and the relaxed M&A attitude under the Trump administration, Oppenheimer adds.