CME - CME Group cut to Sell at CFRA as expectations have 'grown too high'

• CFRA analyst Alexander Yokum downgraded his rating on CME Group ( NASDAQ: CME ) to Sell from Hold on Wednesday as the exchange's surging trading activity is unlikely to continue. The first three quarters of 2022 were the company's second, third, and fourth highest average daily volume quarters, he pointed out..
• "We think expectations have grown too high as the rapid uncertainty in 2022, which has come from geopolitical uncertainty, skyrocketing interest rates, volatile currency markets, and the highest inflation in forty years, is unlikely to repeat in 2023," Yokum wrote in a note to clients.
• CME Group's ( CME ) Q3 results reflected elevated activity across the board with strength in equities and interest rates, he added. Meanwhile, its average rate per contract continued to fall.
• SA contributor Passive Income Pursuit sees CME ( CME ) as a dividend contender, but says its shares appear to be within the range of fair value.

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