Raymond James Upgrades CBOE shares

Analysts at Raymond James upgraded shares of CBOE Holdings Inc.

to outperform from market perform, with $60 target price. Patrick Shaughnessy of Raymond James sees increasing demand for volatility products, Shaughnessy stated, “We believe August-to-date VIX futures volumes – on pace to set a monthly record – are an instructive preview into the potential upside of CBOE's VIX complex in a higher volatility world.” In addition, Raymond James analysts anticipate a dramatic increase in VIX futures data, along with increased trading participation outside U.S trading hours. Shares of CBOE last traded at $52.75 up three percent.