Credit Suisse Lowers Price Target On NASDAQ OMX Group On Solid Execution Amidst Tech Solutions Headwinds

In a report published Friday, Credit Suisse analyst Ashley N. Serrao reiterated an Outperform rating on

, but lowered the price target from $57.00 to $55.00. In the report, Credit Suisse noted, “NDAQ reported 4Q GAAP EPS of $0.50. Reported results excluded $97 million of P/T one-time items—excluding these items core EPS of $0.75 was in-line with CS estimates and one cent ahead of consensus (FC: $0.74). Upside CS was driven by higher transaction fees (+4% yr/yr, +9% qtr/qtr). As of December 31st, 2014 index AuM stood at $99 billion vs. $92 billion in 4Q13, and the technology backlog was at a record $705 million.” NASDAQ OMX Group closed on Thursday at $45.17.