Nesbitt Reco On This...It’s the second largest equity market in the world.
It’s expanding it’s tradings and listing business.
The implementation of Regulation NMS in 2007 should be very beneficial for NDAQ with higher volumes (this will essentially allow trade flow to go where the fastest execution is; Nasdaq will take a lot of trading volume from the NYSE).
International expansion (own 20% of the London Stock Exchange).
30% EPS growth in ’06; 114% in ’07.
Currently trading around $30, off the $46.70 52 week high. This is about a 20% discount to US exchange peers (closer to a 30% discount to NYX). Bear Stearns has a $52 target.