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CME Group Downgraded to “Hold” at Deutsche Bank; Valuation Call (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 Dividend.com DARS™ Rating of 3.4 out of 5 stars.