CBOE Reports Slower Than Expected Summer

CBOE Holdings, Inc. (NASDAQ: CBOE) reported August volumes that were weaker than expected as its market share decling to 27% from 30%, JP Morgan reports.

As a result, JP Morgan is lowering EPS estimates for 2010 by $0.05 and $0.12 for 2011, and also has lowered the price target to $22 (from $23).

JP Morgan remains Neutral on CBOE Holdings, Inc., which closed yesterday at $22.17.

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