J.P. Morgan Raises CME Estimates

J.P. Morgan has raised estimates for CME Group Inc. CME although stocks have recently fallen. According to the report, "We believe that CME makes for a compelling tactical investment at current levels. As was the case early last year, fundamentals have improved materially so far this year with volume up 22% y-o-y in 1Q11, while the stock price has languished, down ~11% year to date. We believe fears of NYSE's launch of competing interest rate execution through NYSE Liffe and clearing through NYPC are overblown and see CME's stock price as particularly attractive at current levels." CME has a $350.00 Price Target and an Overweight Rating. CME closed at $290.92 yesterday.