Futures exchange operator CME Group Inc. (
) on Friday caught a big downgrade from analysts at JPMorgan
The firm said it cut its rating on CME Group from "Overweight"
to "Neutral" while lowering its price target from $288 to $270.
That new target suggests a smaller 13% upside to the stock's
Thursday closing price of $238.62.
CME Group shares, which have lost more than 25% of their value
in the past year, fell $1.93, or -0.8%, in premarket trading
The Bottom Line
Shares of CME Group (
) have a 2.35% dividend yield, based on last night's closing stock
price of $238.62. The stock has technical support in the $222-$237
price area. If the shares can firm up, we see overhead resistance
around the $250-$253 price levels.
CME Group Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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, as well as a detailed explanation of
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