UBS analyst Alex Kramm upgraded the rating on Nasdaq to a Buy yesterday, setting a price target of $115.00.
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Alex Kramm has given his Buy rating due to a combination of factors including Nasdaq’s strong execution and robust growth in its solutions segment. The company has demonstrated a leading growth trajectory among its peers, with a forecasted 9.4% growth in solutions for the current year. This growth is supported by a healthy pipeline and improved sales activity, particularly in the Capital Markets Technology and Data & Listings segments.
Additionally, Kramm has raised the earnings per share (EPS) estimates for Nasdaq, reflecting the company’s improving capital markets environment and operational leverage. The EPS estimates for FY25 and FY26 have been increased by 4% and 3% respectively, driven by higher revenue forecasts and improved margins. With these positive developments, Kramm has also raised the price target for Nasdaq’s stock to $115, applying a valuation multiple closer to its primary information services peers.
According to TipRanks, Kramm is a 5-star analyst with an average return of 11.2% and a 63.91% success rate. Kramm covers the Financial sector, focusing on stocks such as CME Group, Cboe Global Markets, and Intercontinental Exchange.
In another report released today, Barclays also maintained a Buy rating on the stock with a $109.00 price target.