Market Overview

UPDATE: Stifel Nicolaus Cuts PT to $155 on Intercontinental Exchange on Post-Merger Thoughts

Share:
Related ICE
How Jim Cramer Chooses The Best Entry And Exit Points On A Stock
Traders Rush To Close Positions Before The Bell Each Day Fearing Overnight Headlines

Stifel Nicolaus reiterated its Buy rating on Intercontinental Exchange (NYSE: ICE) and lowered its price target from $165 to $155.

Stifel Nicolaus noted, "Despite what we see as a challenging integration of the non-core cash equity and options businesses, we remain positive on the transaction due to the compelling long-term earnings accretion potential from expense and clearing synergies. As a result, our near-term outlook for ICE shares is incrementally less bullish, but we believe the stock offers attractive risk/reward on a 12-18 month horizon. As such, we are removing ICE from the Select List but maintain our Buy rating; and we reduce our target price to $155, reflecting 15x our combined "transition year" (2013) EPS estimate of $10.35."

Intercontinental Exchange closed at $126.92 on Thursday.

Latest Ratings for ICE

DateFirmActionFromTo
Jun 2016JP MorganUpgradesNot RatedNeutral
May 2016Sterne Agee CRTInitiates Coverage onBuy
May 2016Buckingham ResearchInitiates Coverage onBuy

View More Analyst Ratings for ICE
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (ICE)

View Comments and Join the Discussion!