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CME Group’s Target, Estimates Boosted at Goldman Sachs (CME)

Posted
12/27/2010 8:33:00 AM
By: Dividend.com
Referenced Stocks:CME

Futures exchange operator CME Group Inc. ( CME ) on Monday saw its price target and earnings estimates raised on Monday by analysts at Goldman Sachs.

The firm said it now expects CME shares to reach $340. That new target implies a 5% upside to the stock's Thursday closing price of $324.26.

Goldman maintained its "Neutral" rating on CME, but boosted its earnings estimates for the company through 2012. The analyst noted that volume trends are improving, and expects the company to see higher margins in coming years, but is cautious about currency rate fluctuations.

CME Group shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of CME Group ( CME ) have a 1.42% dividend yield, based on Friday's closing stock price of $324.26. The stock has technical support in the $310 price area. If the shares can firm up, we see overhead resistance around the $333-$340 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.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .