Stock exchange operator NYSE Euronext(
) 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
NYSE Euronext shares fell 14 cents, or -0.5%, in premarket
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.
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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