Shares of market exchange operator CME Group Inc. rose Wednesday after an analyst upgraded them from “hold” to “buy.”
Stifel Nicolaus analyst Chris Brendler made the change and gave the stock a price target of $330.
CME shares rose $9.98, or 3.5 percent, to $298.04 during afternoon trading.
Brendler said he became more bullish on the company in part because he thought it was undervalued, and because of long-term trends that point to boost in trading volume on its exchanges.
CME operates several self-regulated markets, including CBOT, NYMEX and COMEX, exchanges where commodities and futures contracts are traded.
