J.P. Morgan Initiates Coverage on Nasdaq OMX with Neutral Rating

In a report published Monday, J.P. Morgan analyst Kenneth Worthington initiated coverage on

with a Neutral rating and $44.50 price target. Worthington commented, "we believe Nasdaq will experience multiple expansion as its revenue mix migrates toward more recurring/stable businesses. We see its revenue growth being helped by the acquisitions of Thomson Reuters Solutions and eSpeed Treasury, driven by cost cutting and product development." Nasdaq OMX Group closed at $39.96 on Friday.