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5/24/2010 12:32:38 PM
Futures exchange operator CME Group Inc. ( CME ) on Monday saw its shares added to Goldman Sachs' prestigious "Conviction Buy" List.
The firm also set a $380 price target on the stock, which had closed at $318.51 on Friday. That target implies a 19% upside to the stock's current price.
Additionally, Goldman raised its second quarter earnings forecast to $4.42 per share from $3.92, citing positive volume trends. The analyst also noted the stock will "take advantage of its position as one of the leading clearing houses globally with trading exposure to interest rates, foreign exchange, and equities; the firm is positioned to offer transparency and clearing value to regulators and client."
CME shares were mostly flat in premarket trading Monday.
The Bottom Line
CME Group Inc. ( CME ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.