Cboe Upgraded To Buy: Deutsche Bank Sees Strong Revenue Growth And Margin Gains Through 2025
Cboe Upgraded To Buy: Deutsche Bank Sees Strong Revenue Growth And Margin Gains Through 2025
Additionally, the analyst anticipates organic growth driven by ongoing product innovation and rising adoption of options, particularly with the upcoming launch of index options on Deutsche Bank analyst Brian Bedell upgraded Cboe Global Markets, Inc. (BATS:CBOE) to Buy from Hold and raised the price target to $222.
德意志银行的分析师布赖恩·贝德尔将Cboe全球市场公司（BATS:CBOE）的评级从持有升级到买入，并将目标股价提高到222美元。
The analyst's bullish stance reflects their updated outlook that CBOE will sustain strong revenue growth through at least 2025.
分析师看好的立场反映出他们更新的观点，即CBOE将在至少2025年维持强劲的营业收入增长。
Bedell expects continued volatility in equity markets, especially following the U.S. elections, which will likely increase demand for index and volatility options and futures.
贝德尔预计股市将持续波动，特别是在美国大选后，这可能会增加对指数和波动率期权和期货的需求。
Additionally, the analyst anticipates organic growth driven by ongoing product innovation and rising adoption of options, particularly with the upcoming launch of index options on Robinhood.
此外，该分析师预期有机增长受持续的产品创新和期权的日益采纳推动，特别是随着即将在罗宾汉推出指数期权。
Also, the analyst projects stronger revenue growth to lead to positive operating leverage next year, allowing management to exceed its expectations for operating margin stability, as discussed on the recent third-quarter earnings call.
此外，分析师预计较强的营业收入增长将使明年实现正面的营业杠杆效应，从而使管理层超出其对营业利润率稳定性的预期，正如最近第三季度业绩电话中讨论的那样。
Notably, this month, the company reported third-quarter adjusted EPS of $2.22, which surpassed the $2.19 estimate, and sales of $532.0 million, beating the expected $530.8 million.
值得注意的是，本月，该公司报告了第三季度调整后的每股收益为2.22美元，超过了2.19美元的估计，销售额为53200万美元，超过了预期的53080万美元。
The analyst adds that along with a modest level of share repurchases, this should support high single-digit EPS growth in 2025 and 2026, surpassing their previous forecast of low-to-mid single-digit growth.
分析师补充说，除了适度的股份回购外，这应该支持2025年和2026年高个位数的每股收益增长，超过了他们之前对低至中个位数增长的预测。
Overall, the analyst revised the forecasts for the company, now projecting 8% revenue growth in 2025 and 6% growth in 2026, up from the previous estimates of 6% and 3%, respectively.
总体上，该分析师修订了对该公司的预测，现在预计2025年营业收入增长8％，2026年增长6％，较之前的预期分别为6％和3％。
Despite robust growth in index product revenue of 55% and 35% in 2022 and 2023, the analyst anticipates index revenue will still grow by at least 10% in 2025, even with challenging comparisons and high volume levels.
尽管2022年和2023年指数产品营业收入增长55%和35%，分析师预计即使面临挑战性的比较和高成交量水平，指数收入在2025年仍将至少增长10%。
Investors can gain exposure to the stock via Listed Funds Trust Horizon Kinetics Blockchain Development ETF (NYSE:BCDF) and iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSE:IAI).
投资者可以通过上市基金信托保宏量子区块链发展 etf（纽交所: BCDF）和iShares美国经纪商及证券交易所 etf（纽交所: IAI）获得股票曝光。
Price Action: CBOE shares are up 1.88% at $200.56 at the last check Monday.
价格走势：截至星期一最后交易日，CBOE股价上涨1.88%，报200.56美元。
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