Raymond James analyst Patrick O’Shaughnessy upgraded CME Group (CME) to Outperform from Market Perform with a $287 price target CME’s suite of risk management tools positions the company well in a volatile global macroeconomic and geopolitical backdrop, as reflected in its strong quarter-to-date trading volumes, the analyst tells investors in a research note. The firm says rate futures volumes are trending better than anticipated with Treasury futures in particular “notably robust.” It sees upside opportunity for CME’s valuation multiple amid “fading concerns” about the competitive landscape and the impact of Federal Reserve rate cuts.
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