CME Group climbs after JPM upgrades stock to 'overweight'

J.P. Morgan said CME is well-positioned to outperform, citing a constructive interest-rate environment that could drive higher trading velocity. The brokerage said activity benefits when longer-term rates rise and that a continuation of Federal Reserve rate hikes could support elevated velocity and upward volume revisions.

Nine of 18 brokerages rate CME shares buy or higher, six rate them hold and three rate them sell, according to LSEG data. The median price target is $328. CME shares were up 8.3% year to date as of the last close.