Market Overview

Citigroup 'Cools' On Intercontinental Exchange


Neil Stratton of Citigroup downgraded shares of Intercontinental Exchange Inc (NYSE: ICE) on Friday to Neutral from Buy despite raising his price target to $240 from a previous $226.

Stratton notes that shares of Intercontinental Exchange appreciated approximately 17 percent quarter-to-date, outperforming its peers return at around 10 percent and the 5 percent appreciation in the S&P 500. The analyst adds that further upside is dependent on driving top line growth and while the company sees opportunities, shares have a balanced risk/reward profile.

Stratton thinks that volume pressures could abate in 2015 while market data and listings businesses will drive year-over-year growth. And the company's clearing business should also grow. In addition, management's $1.65 billion capital return plans throughout 2015 provides further shareholder value.

“While we do see opportunities to drive revenue ahead, Intercontinental Exchange's year-to-date under-performance is now less pronounced and the risk/reward is less attractive, in our view,” Stratton concluded.

Latest Ratings for ICE

Aug 2020OppenheimerDowngradesOutperformPerform
Aug 2020CitigroupMaintainsBuy
Jul 2020Keefe, Bruyette & WoodsMaintainsOutperform

View More Analyst Ratings for ICE
View the Latest Analyst Ratings


Related Articles (ICE)

View Comments and Join the Discussion!

Posted-In: Citigroup Clearing Exchanges intercontinental exchangeAnalyst Color Downgrades Price Target Analyst Ratings

Latest Ratings

GATXSidoti & Co.Maintains73.0
ATENSidoti & Co.Maintains13.0
LBTYAMorgan StanleyReinstates25.0
VNOMPiper SandlerMaintains10.0
CAKEPiper SandlerMaintains38.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at