According to a research report this morning, ISI Group lowers the PT of NYSE Euronext NYX from $28 to $26 following mixed quarter.
ISI Group explained, “Overall, the quarter was mixed with relatively good transaction revenue capture (on reduced expectations) offset by weakness in recurring fee areas, especially technology services. Cost control was good but expense outlook maintained, implying higher op expenses 2Q-4Q vs. our prior estimates. The weaker tech service fees added uncertainty to the long-term outlook, & combined with a weak volume backdrop & stable costs, drove 5% drop in NYX shares.”
NYSE Euronext closed yesterday at $25.75 as ISI Group reiterates Hold rating.
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