On Tuesday, Bank of America raised its price target for Euronext from €80 to €83, while renewing its buy recommendation on the stock market operator's shares.

In a research note, the financial intermediary cites "reassuring" second-quarter results, the accretive impact of its share buyback program, and the low stock market valuation.

BofA also expects potentially positive surprises in terms of the Group's operating performance, thanks to cost reductions and higher-than-expected synergies from its merger with Borsa Italiana.

With regard to the proposed reform of the financial markets, in particular the introduction of a consolidated market data system, the analyst says he does not expect any 'significant' impact at this stage, given investors' preference for real-time quotes.

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