Jefferies Maintains Buy on Nasdaq OMX Group (NDAQ)

Jefferies is out with its report today on Nasdaq OMX Group

, maintaining Buy. In a note to clients, Jefferies writes, "The combination of NDAQ's strong cash flow generation and margin expansion opportunities represents a compelling backdrop, in our view. The growth outlook for NDAQ's non-transactional related revenue continues to improve and any acceleration in trading volumes would drive additional operating leverage." Jefferies has a $29 PT on NDAQ. At the time of posting, shares of NDAQ were trading at $28.25, down 4.69% from Monday's close.