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JMP Securities Starts CME Group as an “Outperform” (CME)

Posted: 5/17/2010 9:06:00 AM
Referenced Stocks: CME

Futures exchange operator CME Group Inc. ( CME ) saw its coverage initiated with an "Outperform" rating on Monday by analysts at JMP Securities.

The firm also set a $335 price target on CME stock, which had closed at $315.41 on Friday. JMP noted that trading volumes should increase from their lows seen in the first quarter.

CME Group shares rose $1.95, or +0.6%, in premarket trading Monday.

The Bottom Line
We recently removed shares of CME from our recommended list on May 6, when the stock was trading at $324.67. The stock has technical support in the $300-$310 price area. If the shares can firm up, we see overhead resistance around the $330 price level. We would remain on the sidelines for now.

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 .