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.
德意志銀行的分析師布賴恩·貝德爾將Cboe全球市場公司（BATS:CBOE）的評級從持有升級到買入，並將目標股價提高到222美元。
The analyst's bullish stance reflects their updated outlook that CBOE will sustain strong revenue growth through at least 2025.
分析師看好的立場反映出他們更新的觀點，即CBOE將在至少2025年維持強勁的營業收入增長。
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.
貝德爾預計股市將持續波動，特別是在美國大選後，這可能會增加對指數和波動率期權和期貨的需求。
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，該分析師預期有機增長受持續的產品創新和期權的日益採納推動，特別是隨着即將在羅賓漢推出指數期權。
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，分析師預計較強的營業收入增長將使明年實現正面的營業槓桿效應，從而使管理層超出其對營業利潤率穩定性的預期，正如最近第三季度業績電話中討論的那樣。
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，該公司報告了第三季度調整後的每股收益爲2.22美元，超過了2.19美元的估計，銷售額爲53200萬美元，超過了預期的53080萬美元。
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.
分析師補充說，除了適度的股份回購外，這應該支持2025年和2026年高個位數的每股收益增長，超過了他們之前對低至中個位數增長的預測。
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.
總體上，該分析師修訂了對該公司的預測，現在預計2025年營業收入增長8％，2026年增長6％，較之前的預期分別爲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.
儘管2022年和2023年指數產品營業收入增長55%和35%，分析師預計即使面臨挑戰性的比較和高成交量水平，指數收入在2025年仍將至少增長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).
投資者可以通過上市基金信託保宏量子區塊鏈發展 etf（紐交所: BCDF）和iShares美國經紀商及證券交易所 etf（紐交所: IAI）獲得股票曝光。
Price Action: CBOE shares are up 1.88% at $200.56 at the last check Monday.
價格走勢：截至星期一最後交易日，CBOE股價上漲1.88%，報200.56美元。
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來自Shutterstock的Ground Picture拍攝的照片
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