Intel stock extends gains after report of possible U.S. government stake
Investing.com - Raymond (NSE:RYMD) James raised its price target on Nasdaq OMX Group Inc. (NASDAQ:NDAQ) to $96.00 from $84.00 while maintaining an Outperform rating ahead of the company’s second-quarter 2025 earnings report, due July 24. The stock, currently trading near its 52-week high of $90.82, has delivered an impressive 47.55% return over the past year.
The firm cited Nasdaq’s collection of attractive financial technology software businesses paired with what it described as a "generally remarkable index franchise" as key factors supporting the higher valuation. With a market capitalization of $50.86 billion and a P/E ratio of 40x, InvestingPro analysis suggests the stock is currently trading above its Fair Value.
Raymond James acknowledged that Nasdaq faces some challenges in its legacy exchange revenue streams, including pressure from de-listings, but expressed confidence that the company can absorb these headwinds.
The investment firm believes Nasdaq’s increasingly growth-oriented and diversified business model can sustain a higher valuation multiple going forward.
Raymond James continues to view the risk/reward profile for Nasdaq as favorable, reinforcing its decision to maintain the Outperform rating while raising the price target.
In other recent news, Nasdaq, Inc. announced the election of all nominated directors to the boards of the six U.S. exchanges it operates, including The Nasdaq Stock Market LLC and Nasdaq PHLX LLC. Additionally, the company’s shareholders elected all 12 nominated directors at the Annual Meeting, with Adena T. Friedman re-elected as Chair of the Board. In terms of financial insights, Goldman Sachs reiterated its Buy rating on Nasdaq, maintaining a price target of $85, citing confidence in the company’s growth outlook, particularly in its Financial Technology segment and Index operations. Meanwhile, Citi raised its price target for Nasdaq to $95 from $80, highlighting the company’s strong performance in equity markets over the past three months. Nasdaq has also introduced Tape D, a real-time private company dataset, in collaboration with Nasdaq Private Market, aimed at enhancing price transparency for private, pre-IPO companies. This initiative is expected to benefit various stakeholders, including investors and private companies. These developments reflect Nasdaq’s ongoing efforts to expand its market capabilities and strengthen its financial position.
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