UPDATE: Deutsche Bank Cuts Target to $30 on NYSE Euronext

Deutsche Bank maintains its Hold rating on NYSE Euronext (NYSE: NYX) and lowers its price target by $5 to $30 following merger termination with Deutsche Boerse.

Deutsche Bank says, "Despite the failed merger, mgmt has taken steps to position the standalone company for long term growth. Given the growth initiatives, as well as expense controls and capital deployment (buybacks & divi) in the near term, we expect some upside, but due to a challenging macro environment / weak volumes, potential regulation / transaction tax, & valuation, we resume coverage with a Hold rating."

NYX closed at $28.04 a share yesterday.