Bolsas y Mercados Espanoles: RBC maintains 'underperform'.

(CercleFinance.com) - RBC Capital Markets is maintaining its "underperform" rating on Bolsas y Mercados Espanoles (BME), reducing its target price from 27 euros to 26 euros, after the Spanish stock exchange operator reported its 2016 results.


Given current trading volumes, RBC has decided to reduce its EPS forecasts by 7.2% for 2017 and by 4.5% for 2018.

In a research note, the broker points out that the outlook for BME is continuing to deteriorate and says it expects a further reduction in its dividend to 1.70 euro per share, versus 1.80 euro at present.

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