Rosenblatt raised the firm’s price target on CME Group to $169 from $161 and keeps a Sell rating on the shares. The firm raised its Q2 EPS estimate to $2.25 to account for better than expected trading activity, noting that the Street is at $2.11 per share, but it maintains a Sell rating on the name given a “sector high” EBITDA multiple, its view that volumes may have peaked for the year and potential competition in rates from the FMX launch.
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Read More on CME:
- CME Group reports June ADV of 23.3M, Q2 ADV 22.9M
- CME Group initiated with an Overweight at Barclays
- CME Group announces expansion of WTI options
- CME Group to launch a Lithium Carbonate futures contract on July 17
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