Cboe hits record as volatility spikes, JP Morgan upgrades
** Shares of Cboe Global Markets CBOE.Z jump on Mon, bucking market selloff, as volatility ignites and analysts upgrade the derivatives exchange
** CBOE shares rise as much 4.6% to record high $202.67. Stock last up 0.7% at $195.12
** The Cboe Volatility Index .VIX, Wall Street 'fear gauge', spikes to nearly 66 on Mon, highest levels since COVID-induced lockdowns in Mar 2020, as global equities tumble on recession fears .N
** JP Morgan upgrades Cboe to "neutral" from "underweight", saying it sees period of higher volatility driving greater activity in co's flagship products including VIX and S&P 500 .SPX options
** JP Morgan, which boosts its PT from $168 to $195, also says co's Q2 results were "solid"
** Cboe on Fri posted qtrly profit beat, aided by strong growth in futures and options trading as investors actively hedge exposure amid geopolitical tensions and elevated interest rates
** Several other brokerages on Mon also increase their PTs, including UBS ($190 to $200) and Piper Sandler ($203 to $210)
** With move on the session, shares up ~9% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
</body></html>Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
