BofA analyst Eli Abboud raised the firm’s price target on Cboe Global Markets (CBOE) to $271 from $260 and keeps a Neutral rating on the shares. The company reported adjusted EPS of $2.67, beating consensus and BofA estimates, while simultaneously announcing that it is beginning a sales process for Cboe Australia & Canada, exiting corporate listings and curtailing spending within its ETP listings, Cboe Europe and analytics businesses. Though the firm thinks that Cboe’s expansion into additional client channels and geographies is a promising long-term opportunity, it is cautious on the near-term growth trajectory, the analyst added.
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