Street View: AI disruption? Not for Nasdaq, analysts say

Nasdaq NDAQ.O raised the medium-term revenue forecast for its biggest division on Wednesday, banking on strength in its data, listing and index businesses

Shares of the exchange operator were last up 4.4% in afternoon trading on Thursday

NASDAQ'S DATA MOAT HOLDS OFF AI THREAT

RBC Capital Markets ("Outperform", PT: $108) says co's resilience against GenAI disruption stems from proprietary data, mission critical applications, deep client integration, domain expertise and strong client returns

"We believe this data volume and quality would be difficult for general-purpose LLMs trained on public internet-scale information to replicate; NDAQ's data is proprietary, permissioned, and embedded within regulated financial ecosystems" - Brokerage

TD Cowen ("Buy", PT: $106) says it sees NDAQ as more a beneficiary of AI rather than commonly feared disrupted candidate

UBS ("Buy", PT: $120) says NDAQ remains its topic pick in the exchanges peer group after the investor day which highlighted strong business lines

"The company's data moats and workflow complexities reiterate that NDAQ should be well positioned against AI disruption, which has been a theme that has been weighing on the sector" - UBS

Jefferies ("Hold", PT: $101) says proprietary nature of the majority of NDAQ's data is what differentiates it vs peers