UPDATE: Jefferies Raises PT to $65 on CME Group on Long-Term Outlook

Jefferies reiterated its Buy rating on CME Group

and raised its price target from $60 to $65. Jefferies noted, "Last week we spent several days with the management team of CME Group. The focus of the meetings centered around OTC clearing and execution initiatives and the globalization of CME's products, all of which represent potential offsets to the current lackluster environment for trading. On a longer-term basis we see several structural changes that should drive accelerating growth at CME." CME Group closed at $57.29 on Friday.