Oppenheimer Raises CBOE Q1 Estimates

Oppenheimer is modestly raising its Q1 2011 estimates “based on company reported volume and pricing statistics.”

“CBOE Holdings, Inc. (NASDAQ: CBOE) has posted volume numbers for all three months of the first quarter and average pricing data for two months,” Oppenheimer writes.

“Based on this, our Q1 EPS estimate increases by 2 cents and FY2012E increases by 1 cent. Our outlook and investment opinion are unchanged as well—we believe CBOE offers investors a strong secular growth opportunity at a reasonable valuation that is comparable with CME Group Inc. (NASDAQ: CME) and IntercontinentalExchange, Inc. (NYSE: ICE), while at the same time offering the possibility of being acquired at a significant premium given the consolidation trends in the industry.”

CBOE Holdings closed Thursday at $27.01.