Piper Sandler analyst Patrick Moley raised the firm’s price target on Cboe Global Markets (CBOE) to $290 from $270 and keeps an Overweight rating on the shares. The firm notes Cboe reported a record quarter underpinned by double-digit revenue growth across all 3 of its business lines. Strength in volumes was to be expected, but the about 11% year-over-year growth in Data Vantage revenues was an unexpected positive that led Cboe to raise its FY25 guide, Piper adds.
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