A recent model update raised CME Group's fair value estimate from US$292 to US$316, feeding into price targets in the US$300 to US$360 range. Analysts tie these targets to record Q3 volumes, the current interest rate backdrop, and new contracts such as crypto and compute-related futures. JPMorgan, Morgan Stanley and Wells Fargo raised their targets into the US$300s, while BofA keeps an Underperform rating, lifts its target into the low US$200s and cites valuation and modeling updates rather than a change in fundamental thesis. Deutsche Bank moved to Hold with a US$270 target, saying the upside has narrowed after the stock's prior rally. The model's revenue growth assumption also shifted from 5.65% to 6.08%.
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