
Shares of exchange operator CME Group CME.O up 2.3% at $260.32
Raymond James upgrades CME to "outperform" from "market perform"; assigns $287 PT, a 12.7% upside to stock's last close
Brokerage says CME's risk management offerings position the firm well in a volatile macroeconomic and geopolitical backdrop, as reflected in strong QTD trading volumes
Sees upside opportunity for CME's valuation given fading concerns about competitive landscape and the impact of rate cuts on trading volumes
Raymond James says CME's energy futures business continues to serve as a tailwind as well, reversing several years of decline
Seven of 18 brokerages rate the stock "buy" or higher, eight "hold" and three "sell"; median PT is $263 - LSEG-compiled data
CME stock up 12% YTD