UPDATE: Stifel Nicolaus Increases Target to $320 on CME Group

Stifel Nicolaus raises its price target on CME Group CME to $320 from $295 on Buy-rated CME Group CME as the company stands to benefit from the less-dovish Fed tone. Stifel Nicolaus notes, "Recent upside in U.S. economic data has the Fed taking a slightly less dovish tone on interest rates. With the recent rally in the stock being driven primarily by income seeking investors on the increased dividend, we believe there is further upside potential from improving fundamentals, particularly in the interest rate business as expectations have begun to shift toward pre-2014 tightening. As such, we are raising our target price on CME and reiterate our Buy rating on the shares." CME closed at $289.54 a share on Thursday.