Goldman Removing NYSE Euronext From Conviction Buy (NYX)

Goldman Sachs is removing NYSE Euronext NYX from its Conviction Buy List. It has a Neutral rating and a $42 price target on shares. In a note to investors, Goldman writes, "NYSE Euronext and Deutsche Boerse AG confirmed they are in advanced merger discussions for an all-stock transaction, with DB1 shareholders set to receive 59-60% of the combined company's equity and NYX 40-41%. We now factor in a 30% likelihood of M&A activity into our price target, and raise our 12-month price target to $42 from $38. We also remove shares of NYX from the Conviction Buy List, but remain Buy rated. Since we added shares of NYX to the CL-Buy list on Jan 12, 2011, NYX is up 18% vs a 3% increase for both our coverage group and the S&P 500. Over the past 12- months, shares are up 22% compared to a 25% increase in the S&P 500." Shares of NYX gained $4.69 yesterday to close at $38.10, a gain of 14.04%.