CME Group (CME) PT Raised to $181 at BofA Securities

BofA Securities analyst Craig Siegenthaler raised the price target on CME Group (NASDAQ: CME) to $181.00 (from $180.00) while maintaining a Underperform rating.

The analyst comments "Key drivers of the quarter’s volumes include the upcoming US presidential election, two conflicts (Ukraine, Gaza) and mixed economic data. This drove the VIX up 22% q/q. As a result, volume records were achieved in several contracts including micro Nasdaq-100 futures, micro Bitcoin futures and several treasury future tenors. We expect volatility to remain high in 4Q24 but then normalize down in 2025 after the election, additional Fed rate cuts and higher visibility into the hard/soft/no landing economic scenarios."

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