KBW Maintains Market Perform on CBOE Holdings

KBW is out with its report today on CBOE Holdings CBOE, maintaining Market Perform. In its report, KBW writes, "CBOE delivered 2Q11 EPS of $0.36, beating consensus and KBW's estimate of $0.32 on lower than expected expenses. Solid cost and capital management increase our 2012 ests. Lowering 2011E on delayed SPXpm rollout. In 3Q11-TD, options volume is up 5% from 2Q11. We maintain our MP and PT of $25, which implies 13% potential upside from current levels." Shares of CBOE closed Thursday at $21.78.