UPDATE: Stifel Nicolaus Upgrades NYSE Euronext to Hold on Valuation

Stifel Nicolaus raises its rating on NYSE Euronext

from Sell to Hold on valuation and the passing of catalysts that led to the previous rating. Stifel Nicolaus notes, "We are upgrading shares of NYX to Hold from Sell based on the current valuation and occurrence of catalysts cited for our Sell rating. Namely, consensus EPS estimates have come down 15% and 9% for 2012 and 2013 respectively since late March, which was the primary catalyst for our downgrade. While we expect continued headwinds for NYX given the weak trading environment and regulatory pressures in Europe, we believe the current valuation discounts many of these risks and see the shares as reflecting fair value." NYX closed at $25.41 on Monday.