UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on NYSE Euronext
In a report published Friday, Jefferies & Company reiterated its Hold rating on NYSE Euronext (NYSE: NYX), and raised its price target from $24.00 to $33.00.
Jefferies noted, “We have modestly lowered our 4Q EPS expectations for the majority of exchanges as trading volumes remained under pressure throughout the quarter. That said, seasonality and a slightly more favourable macro backdrop are likely to drive an improved 1Q13. Despite the recently announced NYX transaction, ICE remains the primary growth story in the group and continues to have the best fundamentals.”
NYSE Euronext closed on Thursday at $32.26.
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