UPDATE: Stifel Nicolaus Increases Target to $320 on CME Group
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.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.