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CME Group Upgraded to “Buy” at Stifel Nicolaus (CME)

Posted: 12/1/2010 8:53:00 AM
Referenced Stocks: CME

Futures exchange operator CME Group Inc. ( CME ) on Wednesday caught an upgrade from analysts at Stifel Nicolaus.

The firm said it boosted its rating on CME from "Hold" to "Buy" on a valuation call. Stifel Nicolaus currently has a $330 price target on CME, which implies a 15% upside to the stock's Tuesday closing price of $288.06.

CME Group shares rose $4.17, or +1.5%, in premarket trading Wednesday.

The Bottom Line
Shares of CME Group ( CME ) have a 1.60% dividend yield, based on last night's closing stock price of $288.06. The stock has technical support in the $280 price area. If the shares can firm up, we see overhead resistance around the $297-$300 price levels.

CME Group Inc. ( CME ) is not recommended at this time, holding a DARS™ Rating of 3.3 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 .