NYSE Euronext’s Estimates Cut at Morgan Stanley on Equity Volume Concerns (NYX)

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Equities exchange operator NYSE Euronext ( NYX ) on Thursday saw its earnings estimates lowered by analysts at Morgan Stanley.

The firm said it cut its estimates for NYX through 2012, while maintaining its "Equal-weight" rating and $36 price target. That target represents an expected 28% upside to the stock's Wednesday closing price of $28.09.

Morgan Stanley noted it made the earnings estimate adjustment because the company will probably see lower U.S. equity volumes.

NYSE Euronext shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of NYX have a 4.27% dividend yield, based on last night's closing stock price of $28.09. The stock has technical support in the $25-$26 price area. If the shares can firm up, we see overhead resistance around the $31-$32 price levels. We would remain on the sidelines for now.

NYSE Euronext ( NYX ) 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: NYX

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