Market Overview

UPDATE: Goldman Sachs Downgrades CME Group to Sell on EPS Risk

Share:
Related CME
CME Group, Multi Commodity Exchange of India sign MoU
Goldman Sachs Downgrades Ameriprise Financial, Virtus On 'Weak Flows' And Retail Risks
Canadian Metals Announces Closing of First Tranche of Private Placement of Convertible ... (GuruFocus)

Goldman Sachs reduced its rating on CME Group (NASDAQ: CME) from Neutral to Sell and reduced its price target from $53 to $48.

Goldman Sachs noted, "Although we view CME as the leading global futures exchange, with resilient margins and a powerful capital deployment strategy, we believe the Street is too optimistic on CME's near-term EPS outlook (we are 8% below consensus for 2013) given the most recent volume and open interest trends. Moreover, following CME's recent variable dividend announcement on 12/5/2012, we expect investor focus could shift back to the firm's core fundamentals, which continue to deteriorate with total open interest down 12% yoy through November."

CME Group closed at $54.96 on Friday.

Latest Ratings for CME

DateFirmActionFromTo
Jul 2015BarclaysMaintainsEqual-weight
Jul 2015UBSMaintainsBuy
Jun 2015Keefe Bruyette & WoodsMaintainsMarket Perform

View More Analyst Ratings for CME
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (CME)

Get Benzinga's Newsletters