UPDATE: Jefferies Raises PT on IntercontinentalExchange on 1Q13 Exchange Preview
In a report published Monday, Jefferies analyst Daniel T. Fannon reiterated a Buy rating on IntercontinentalExchange (NYSE: ICE), and raised the price target from $170.00 to $185.00.
In the report, Fannon noted, “We have lowered our 1Q13 EPS expectations for the traditional equity exchanges, while our numbers for the derivatives exchanges remain relatively unchanged. This mirrors the state of general industry trends, where the outlook for derivatives volume growth is much stronger than equity volume growth. CME and ICE remain our favorite ideas in the group.”
IntercontinentalExchange closed on Friday at $158.20.
Latest Ratings for ICE
|Sep 2014||Deutsche Bank||Initiates Coverage on||Hold|
|Aug 2014||JP Morgan||Maintains||Overweight|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.