KBW is out with its report today on CBOE Holdings CBOE, maintaining Market Perform.
In its report, KBW writes, "CBOE delivered 2Q11 EPS of $0.36, beating consensus and KBW's estimate of $0.32 on lower than expected expenses. Solid cost and capital management increase our 2012 ests. Lowering 2011E on
delayed SPXpm rollout. In 3Q11-TD, options volume is up 5% from 2Q11. We maintain our MP and PT of $25, which implies 13% potential upside from current levels."
Shares of CBOE closed Thursday at $21.78.
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