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Macquarie Upgrades CME Group to “Outperform”; Sees 42% Upside (CME)

Posted: 12/22/2011 8:51:00 AM
Referenced Stocks: CME

Futures exchange operator CME Group Inc. ( CME ) on Thursday caught a big upgrade from analysts at Macquarie Group.

The firm said it boosted its rating on CME from "Neutral" to "Outperform" with a $344 price target. That new target suggests a massive 43% upside to the stock's Wednesday closing price of $241.34.

CME Group shares, which have lost 25% of their value year-to-date, rose $1.73, or +0.7%, in premarket trading Thursday.

The Bottom Line
Shares of CME Group ( CME ) have a 2.32% dividend yield, based on last night's closing stock price of $241.34. The stock has technical support in the $222-$237 price area. If the shares can firm up, we see overhead resistance around the $250-$253 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 .