Cboe Global Markets price target raised to $261 from $254 at BofA

BofA analyst Craig Siegenthaler raised the firm’s price target on Cboe Global Markets (CBOE) to $261 from $254 and keeps a Neutral rating on the shares. Volatility receded significantly in Q3, which dampened exchange volumes across most asset classes, says the analyst, who is cutting near-term EPS estimates for most of the firm’s exchange coverage. However, options are “a retail-centric asset class” and given its distinct channel mix, Cboe has “escaped the volume pullback that has plagued most of our market structure coverage,” the analyst added.