Argus downgraded Cboe Global Markets to Hold from Buy. The stock price has exceeded the firm’s prior target following its recent run-up, while the Q3 earnings were well above consensus estimates and the management expects organic net revenue to grow 7%-9% in 2023, the analyst tells investors in a research note. Argus adds that CBOE should continue to benefit from market volatility in its proprietary VIX index, and from its ability to provide greater price transparency in options trading, though at its current levels, the stock is “fully valued”.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CBOE:
- Soros Fund buys Splunk, exits Rivian in Q3
- Cboe Global Markets price target raised to $170 from $168 at Deutsche Bank
- Cboe Global Markets price target raised to $189 from $170 at Barclays
- Cboe Global Markets Reports Results for Third Quarter 2023
- Cboe Global Markets backs FY23 revenue growth view 7%-9%, consensus $1.9B