Deutsche Bank lowers its price target from $28 to $27 on Hold-rated CBOE Holdings CBOE as the company faces a tough environment despite beating expectations in Q1.
Deutsche Bank says, "CBOE reported op. EPS of $0.37, beating our/Street est of $0.36, due to lower than expected expenses. Despite healthy relative growth/market share gains at CBOE, given the challenging macro / lower growth environment (and tough comps), lower pricing, some reg
uncertainty, & valuation, we remain at Hold."
CBOE closed at $26.64 on Tuesday.
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