Jefferies Reports CBOE 1Q Ahead Of Estimates

Jefferies is maintaining its Hold rating and its $26 price target on CBOE Holdings Inc. (NASDAQ: CBOE) following 1Q results.

Says Jefferies, in its report, “Yesterday, CBOE reported 1Q Non-GAAP EPS of $0.36, $0.03 better than our estimate and $0.02 better than consensus. Core trends remain positive, with modestly lower expenses driving the upside. Despite current industry consolidation trends, we anticipate CBOE will remain independent, at least in the short-term. At current levels, we view the shares as fairly valued.”

CBOE closed yesterday at $26.33.