CME Group’s Estimates Boosted at Morgan Stanley (CME)

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Futures exchange operator CME Group Inc. ( CME ) on Wednesday saw its earnings estimates raised by analysts at Morgan Stanley.

The firm said it lifted its estimates for CME through 2012, citing higher trading volumes - with the exception of commodities and energy. Morgan Stanley currently rates the stock as "Underweight" with a $319 price target. That target represents a potential 11% upside to CME's Tuesday closing price of $287.91.

CME shares rose $3.59, or +1.3%, in premarket trading Wednesday.

The Bottom Line
We had removed shares of CME from our recommended list back on May 6, when the stock was trading at $324.67. The company has a 1.60% dividend yield, based on last night's closing stock price of $287.91. The stock has technical support in the $270 price area. If the shares can firm up, we see overhead resistance around the $310 price level. We would remain on the sidelines for now.

CME Group Inc. ( CME ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: CME

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