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CME Group Started as an “Outperform” at BMO Capital (CME)

Posted: 6/23/2011 9:16:00 AM
Referenced Stocks: CME

Futures exchange operator CME Group Inc. ( CME ) on Thursday saw its coverage initiated with an "Outperform" rating by analysts at BMO Capital.

The firm also set a $340 price target on CME, suggesting a 21% upside to the stock's Wednesday closing price of $281.33. BMO Capital said the company has strong earnings growth potential and currently trades at a reasonable market valuation.

CME Group shares fell $1.83, or -0.7%, in premarket trading Thursday.

The Bottom Line
Shares of CME Group ( CME ) have a 1.99% dividend yield, based on last night's closing stock price of $281.33. The stock has technical support in the $267-$271 price area. If the shares can firm up, we see overhead resistance around the $290-$300 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 .