Jefferies raises Cboe price target after Q2 results
CBOE•View on growth and perpetual contracts
Jefferies says CBOE's core customer growth and product utilization will continue to expand, though debate over perpetual contracts is likely to remain an overhang.
"When asked about perps, the company emphasized its view that perps are not a major substitute for its option products," - Jefferies
Jefferies lifts price target and estimates
Jefferies raises price target on derivatives exchange operator Cboe Global Markets' CBOE.Z stock to $292 from $269.
The brokerage also increases CBOE's 2027 EPS estimates by 3%.
Second-quarter results and analyst ratings
On Friday, Cboe exceeded second-quarter profit expectations, driven by robust options trading volumes.
Five of 19 brokerages rate the stock "buy", 11 "hold" and three "sell"; their median PT is $312.
As of last close, CBOE is up 18.7% YTD.
