UPDATE: Jefferies Reiterates on Intercontinental Exchange on Same Focus on Growth and Returns

In a report published Wednesday, Jefferies analyst Daniel T. Fannon reiterated a Buy rating on Intercontinental Exchange ICE, and raised the price target from $215.00 to $235.00. In the report, Jefferies noted, “With the NYX deal now complete, the focus turns to integration, execution and growth. While still early, the outlook for expense synergies and business segment optimization is underway. Even in a so-so environment for energy trading, the pro forma earnings power for the combined businesses is compelling, in our view. We are increasing our price target to $235 (up from $215).” Intercontinental Exchange closed on Tuesday at $206.42.