Zeev's Turnips Patch-No Politics (ZEEV)

[madrose1]

08:57 BOT $104 CBOT Holdings tgt cut to $96.50 at Sandler O'Neill (104.46 ) -Update-

Sandler O'Neill cuts their BOT tgt to $96.50 from $103.50. Firm notes that BOT announced price increases, which they say comes just nine months after October 1 increase. Firm calculates that the price increase will raise EPS by approximately $0.074 per quarter. Based on several factors, including 1) 1Q06's outperformance, 2) the price increase, and 3) AG going electronic in August, partially offset by lower expected volume run rates, they are raising their 2006 EPS estimate by $0.31 to $2.76 (consensus $2.59), and raises their 2007 est by $0.51 to $3.51 (consensus $3.21). However, firm firm thinks the organic