Cboe Global Markets upgraded to Outperform from Neutral at Credit Suisse

Credit Suisse analyst Gautum Sawant upgraded Cboe Global Markets to Outperform from Neutral with a price target of $144, down from $159. The analyst cites the company’s "defensive" prospects and potential to grow derivatives volumes for the upgrade. The exchanges’ sensitivity to economic conditions is a "unique revenue/earnings growth lever" due to the potential for slower economic growth, inflation ambiguity, and geopolitics to contribute to trading volume growth in 2023, Sawant tells investors in a research note. He sees more clarity on growth prospects for fixed income, commodity derivatives and index options in 2023.