UPDATE: Jefferies Cuts PT to $26 on NYSE Euronext; Tech Slowdown

Jefferies lowers its price target from $28 to $26 on Hold-rated NYSE Euronext

as Q1 suggests tech segment is off to a slow start. Jefferies comments, "NYX reported 1Q12 non-GAAP EPS of $0.47, in line with our estimate and $0.01 below consensus. Operating results missed our estimate mostly due to weakness in the Technology segment. The slowdown in non-transaction revenues combined with ongoing depressed activity levels continues to put pressure on our estimates. Our 2012 and 2013 EPS estimates decline $0.14 and $0.18 to $2.18 and $2.57, respectively." NYX closed at $25.75 on Monday.