BofA Securities analyst Craig Siegenthaler maintains $Nasdaq (NDAQ.US)$ with a buy rating, and adjusts the target price from $90 to $88.
According to TipRanks data, the analyst has a success rate of 67.8% and a total average return of 16.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Nasdaq (NDAQ.US)$'s main analysts recently are as follows:
Lower interest rates and a slow recovery in deal activity pose downside risks for most capital markets stocks heading into Q3 reports. Despite the encouragement of risk-on behavior due to anticipations of faster rate cuts and stronger equity markets, deal activity remains subdued, presenting continued challenges for alternative managers and stretching valuation multiples. Traditional managers saw organic growth weaken in Q3, and the lower interest rate environment is identified as a significant risk to the earnings of brokers and wealth managers. However, exchanges and trust banks are highlighted as the more resilient sectors in the face of these Q3 results.
The firm is adjusting estimates and targets across the exchanges to reflect intra-quarter data points, as noted in a Q3 preview shared with investors.
Note:
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