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CME Group Downgraded to “Hold” at Deutsche Bank; Valuation Call (CME)

Posted: 1/7/2011 9:07:00 AM
Referenced Stocks: CME

Futures exchange operator CME Group Inc. ( CME ) on Friday caught a downgrade from analysts at Deutsche Bank on a valuation call.

The firm said it downgraded CME from "Buy" to "Hold" with a $320 price target. That target implies just a small upside to the stock's Thursday closing price of $313.64.

Deutsche Bank said the move was a valuation call, as CME stock surged 20% in the fourth quarter alone.

CME Group shares fell $4.59, or -1.5%, in premarket trading Friday.

The Bottom Line
Shares of CME Group ( CME ) have a 1.47% dividend yield, based on last night's closing stock price of $313.64. The stock has technical support in the $290-$303 price area. If the shares can firm up, we see overhead resistance around the $320-$327 price levels.

CME Group Inc. ( CME ) is not recommended at this time, holding a 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 .