KBW Maintains PT Of $25.00 And Reiterates Overweight Rating On CBOE

In a recent report, Keefe, Bruyette & Woods has maintained a price target of $25.00 and reiterated an Overweight rating on CBOE Holdings (NASDAQ: CBOE) after catching up with the CEO and CFO of CBOE the day after strong reported 1Q earnings.

In the report, KBW said, "CEO Bill Brodsky's top priority is gaining SEC approval of C2's SPXpm contract by June 6, 2011. CFO Alan Dean stuck to 2011 expense guidance, indicating near-term expenses will increase. We learned CBOE's relationship with S&P is far from one-sided, with S&P garnering revenue from CBOE's proprietary VIX contract."

CBOE Holdings closed yesterday at $26.82.