Nasdaq price target raised to $78 from $75 at Oppenheimer

Oppenheimer analyst Owen Lau raised the firm’s price target on Nasdaq to $78 from $75 and keeps an Outperform rating on the shares. After the market close on July 26, Thoma Bravo, the largest shareholder of Nasdaq, announced the sale of 41.6M shares at a 2.5% discount. On Monday, the stock was up 1.4% vs. up 0.1% for S&P 500. The firm says it was a bit of surprise to investors, but Oppenheimer has been positioning that this could be a positive catalyst for Nasdaq. The stock reaction indicates that the Thoma Bravo overhang narrative is likely gone, the firm adds. Oppenheimer believes Nasdaq could eventually trade similar to other high-quality information services names.