CBOE stock price target raised to $274 from $227 at TD Cowen

Investing.com - TD Cowen raised its price target on CBOE Holdings (NYSE:CBOE) to $274.00 from $227.00 on Monday, while maintaining a Hold rating on the stock. CBOE currently trades at $236.72, with InvestingPro data indicating the stock is slightly overvalued compared to its Fair Value assessment.

The price target increase follows CBOE’s third-quarter earnings beat reported on October 31 and what TD Cowen described as a "constructive" post-earnings conference call that provided additional details about the company’s strategic realignment under its new CEO. InvestingPro data shows 5 analysts have revised their earnings upwards for the upcoming period, reflecting growing confidence in the company’s direction.

TD Cowen raised its 2025-2026 adjusted EPS estimates for CBOE and increased its target multiple to 25x from 22x previously, citing a "sleeker, more growthy model" emerging at the company.

The firm noted it likes CBOE’s moves to streamline its platform, which should drive more growth and higher margins while accelerating free cash flow conversion.

Despite the positive outlook, TD Cowen maintained its Hold rating, stating it doesn’t see "enough residual upside to step in," particularly after CBOE’s strong year-to-date price action, including an approximately 4% jump following its earnings report on October 31.

In other recent news, Cboe Global Markets reported record third-quarter results that surpassed analyst expectations. The company also announced a strategic realignment of its business portfolio, aimed at enhancing its operational efficiency. Following the announcement, Cboe Global Markets raised its revenue outlook, signaling confidence in its future performance. These developments are part of the company’s ongoing efforts to optimize its market position. The earnings report and strategic realignment have been well-received, with the company seeing positive reactions from investors. Analyst firms have taken note of these developments, though specific upgrades or downgrades were not mentioned in the reports. The company’s proactive approach in adjusting its business strategy reflects its commitment to maintaining a competitive edge in the market. These recent developments highlight Cboe Global Markets’ focus on growth and adaptation in the evolving financial landscape.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.