NYSE Euronext Upgraded to “Outpeform” at Wells Fargo (NYX)

Stock exchange operator NYSE Euronext ( NYX ) on Monday saw its rating, price target, and earnings estimates all raised by analysts at Wells Fargo. The firm said it boosted its rating on NYX from “Market Perform” to “Outperform,” while raising its valuation range from $30-32 to $40-$42. That new range implies a possible 30% upside to the stock’s Friday closing price of $32.38. A Wells Fargo analyst commented, “Following several years of infrastructure buildout and M&A, we believe NYX has improved its competitiveness and service offering. This, coupled with a more optimistic outlook for exchange volumes, positions the company to deliver better growth over the near to medium term, in our view…We are also increasing our 2012 EPS estimate to $2.95 from $2.87.” NYSE shares rose 22 cents, or +0.7%, in premarket trading Monday. The Bottom Line Shares of NYSE Euronext ( NYX ) have a 3.71% dividend yield, based on Friday’s closing stock price of $32.38. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $34-$35 price levels. NYSE Euronext ( NYX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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NYSE Euronext Upgraded to “Outpeform” at Wells Fargo (NYX)

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