02:05 PM EDT, 06/02/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target price by $60 to $320, based on a forward P/E of 24.5x our 2027 earnings estimate, a premium to historical averages given an improved margin profile. Our reduced target price reflects rising competition. Previously, we expected CME's valuation multiple to expand alongside solid earnings and revenue growth. However, the CFTC's approval of Bitcoin perpetual futures at Kalshi is likely to pressure valuations for traditional exchange operators as investors fear more approvals are in the pipeline. If regulators extend approval to other asset classes and trading products, traditional exchanges could lose significant market share, especially in retail trading. We believe CME faces moderate risk given its exposure to futures and retail. Other exchanges likely to face pressure include Cboe Global Markets Inc. (CBOE 274 ****), Nasdaq Inc. (NDAQ 88 *****), and Intercontinental Exchange Inc. (ICE 141 ****), noting the last two are less of a concern due to their stronger institutional focus.