BofA Securities analyst Craig Siegenthaler downgraded CME Group Inc (NASDAQ:CME) to Underperform from Neutral, lowering the price target from $212 to $177. The company now faces competition on three fronts from BGC Group, Inc. (NASDAQ:BGC), Cboe Global Markets, Inc. (BATS:CBOE), and Intercontinental Exchange Inc. (NYSE:ICE). This intensifying rivalry could result in market share losses and pricing pressures, the analyst cautions. The analyst projects CME to reduce its pricing on interest rate futures by over 10% as a defensive strategy, given the imminent launch of BGC’s FMX Futures Exchange. …
