UBS lowered the firm’s price target on IntercontinentalExchange (ICE) to $200 from $215 and keeps a Buy rating on the shares. The recent selloff reflects short-term weakness in energy trading growth, but volumes are already rebounding in Q4 and structural trends remain solid, the analyst tells investors in a research note. While softness in mortgage tech persists, its earnings impact is minimal, and the broader digitization story and cyclical upside remain compelling. The Polymarket investment adds strategic optionality, making the pullback an appealing entry point, UBS argues.
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