NYSE Euronext’s Target, Estimates Cut at Morgan Stanley (NYX)

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Stock exchange operator NYSE Euronext( NYX ) on Tuesday saw its price target and earnings estimates lowered by analysts at Morgan Stanley.

The firm maintained its "Equal-weight" rating on NYX, but cut its price target to $35. That new target represents an expected upside of 21% to the stock's Monday closing price of $28.99.

Morgan Stanley also said it cut its earnings estimates for NYX through 2011, citing lower trading volumes in all of its major markets.

NYSE Euronext shares fell 14 cents, or -0.5%, in premarket trading Tuesday.

The Bottom Line
Shares of NYX have a 4.14% dividend yield, based on last night's closing stock price of $28.99. The stock has technical support in the $26 price area. If the shares can firm up, we see overhead resistance around the $32 price level. 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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