Goldman Sachs analyst Alexander Blostein downgrades $Cboe Global Markets (CBOE.US)$ to a sell rating, and sets the target price at $184.
According to TipRanks data, the analyst has a success rate of 74.9% and a total average return of 21.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Cboe Global Markets (CBOE.US)$'s main analysts recently are as follows:
Alternative asset managers are reportedly experiencing favorable secular tailwinds, while retail and wealth sectors are viewed as highly compelling. Exchanges, however, are perceived as less enticing in positive markets, likely experiencing slower growth compared to more asset-sensitive financial groups like asset managers and certain brokers. The potential for specific policies to benefit energy exchange businesses exists, although growth in other asset classes may be less impressive. Brokers are highlighted as a favored sector leading into 2025 due to their resilience in short-term rate environments which is expected to bolster margin lending and other high-margin operations. Furthermore, a financially successful retail customer base could prolong an active trading period for retail investors.
Analysts have noted a stagnation in sales growth at Cboe Global Markets, primarily due to maturing trends in its primary SPX franchise, mixed results in VIX products and losses of market share in U.S. equities and options. The slowdown in the company's Index franchise, which significantly contributes to net revenue and has been a key growth driver historically, appears to overshadow other business initiatives. It is anticipated that Cboe may experience only modest mid-single-digit earnings growth over the coming years, compared to the historically stronger growth rates.
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