CME Group price target raised to $303 from $300 at Oppenheimer

Oppenheimer analyst Owen Lau raised the firm’s price target on CME Group (CME) to $303 from $300 and keeps an Outperform rating on the shares. The firm notes CME delivered again another record quarter with revenue, ADV, adjusted operating income and adjusted EPS achieving all-time highs and were up double-digits year-over-year. Revenue was better than expected due to higher RPC, and expense guidance was dialed down due to lower spend on Google (GOOGL) migration and professional services. Given the positive results, the stock was up 0.7% vs. up 0.8% for S&P 500 at close, Oppenheimer adds.