CBOE's Potential Sale And Its Bright Spot In The Market Post-CEO Resignation: Analyst Highlights
Portfolio Pulse from Nabaparna Bhattacharya
Piper Sandler analyst Patrick Moley has reiterated an Overweight rating on Cboe Global Markets, Inc. (CBOE) and raised the price target to $174 from $160. The analyst expects CBOE to report its 5th consecutive record quarter for index options volumes and the 10th consecutive QoQ increase in volumes. CBOE shares are up 3.1% since the former CEO resigned, and the analyst suspects this is due to investors pricing in greater odds of a potential sale following the CEO's departure. CME Group Inc (CME) is considered the most likely acquirer if a sale occurs.
September 29, 2023 | 7:07 pm
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POSITIVE IMPACT
CBOE's stock price may increase due to the raised price target and potential sale speculation.
The raised price target and the speculation of a potential sale following the CEO's resignation could drive the stock price up.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
CME's stock price may be affected by speculation of it being the most likely acquirer of CBOE.
The speculation of CME being the most likely acquirer of CBOE could have an impact on its stock price, although the direction of the impact is uncertain.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70