NASDAQ Gets a Buy from Barclays on Valuation, Cash Flow, Diversified Business Model

Kenneth Hill, CFA of Barclays PLC (NYSE:BCS) (LON:BARC) is reinstating his rating of NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) at Overweight with a price target of $39. His Overweight rating is predicated on the firm’s attractive valuation, solid cash flow generation and diversified business model. Looking at the exchange he notes that NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) scores relatively well in the capital returns portion of our analysis (despite temporarily halting share repurchases), on par with peers in  fundamental section and not as attractively in the risk section of the analysis. That being said, we do not believe that the company’s relative…