CME Group, the Financial sector company, was revisited by a Wall Street analyst today. Analyst Christopher Allen from Citi maintained a Hold rating on the stock and has a $275.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Christopher Allen has given his Hold rating due to a combination of factors, including the recent performance and future outlook of CME Group. In the second quarter, CME Group experienced a significant increase in average daily volume, reaching a record high across various asset classes. Despite this growth, there is an expectation that activity levels will moderate in the third quarter, although the company remains well-positioned to capitalize on any future market volatility due to its diverse asset offerings and liquidity depth.
Allen also considers the current valuations of CME Group to present a balanced risk and reward scenario. While open interest has shown resilience, the anticipated moderation in activity levels suggests a cautious approach. Consequently, the target price has been adjusted slightly, reflecting a conservative outlook on the stock’s potential return, which aligns with the Hold rating recommendation.
In another report released today, KBW also maintained a Hold rating on the stock with a $273.00 price target.