UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on NYSE Euronext
In a report published Wednesday, Jefferies & Company reiterated its Hold rating on NYSE Euronext (NYSE: NYX), but lowered its price target from $26.00 to $24.00.
Jefferies noted, “We are lowering our 4Q12 and 2013 EPS estimates to reflect the continued slowdown in technology as well as the ongoing sluggishness in trading volumes. The company continues to struggle with aligning its cost base with the slowing revenue environment. While NYX has made progress on its cost cutting initiatives the pressure on earnings doesn't appear to be abating in the short term.”
NYSE Euronext closed on Tuesday at $24.27.
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