BofA lowered the firm’s price target on Cboe Global Markets (CBOE) to $260 from $261 and keeps a Neutral rating on the shares. The firm is reducing fee rate estimates for Cboe as, per their new guidance, Cboe’s multi-listed options revenue capture has declined 21% quarter-over-quarter. The firm thinks there has been a strategy adjustment as management aims to shore up their multi-listed options market share, the analyst tells investors.
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