Cboe Global Markets price target raised to $206 from $201 at Oppenheimer

Oppenheimer raised the firm’s price target on Cboe Global Markets to $206 from $201 and keeps an Outperform rating on the shares following quarterly results. While the Street’s focus was on the revenue miss and slower organic growth guidance, the firm believes margin stabilization is a big part of the story in 2024. The expense guidance, which was 8% lower than Oppenheimer’s estimate, and the effort to stabilize margins seemed underappreciated.