UPDATE: Jefferies Reiterates Buy Rating, Raises PT on CME Group on 1Q13 Exchange Preview

In a report published Monday, Jefferies analyst Daniel T. Fannon reiterated a Buy rating on CME Group

, and raised the price target from $65.00 to $69.00. In the report, Fannon noted, “We have lowered our 1Q13 EPS expectations for the traditional equity exchanges, while our numbers for the derivatives exchanges remain relatively unchanged. This mirrors the state of general industry trends, where the outlook for derivatives volume growth is much stronger than equity volume growth. CME and ICE remain our favorite ideas in the group.” CME Group closed on Friday at $60.48.