IntercontinentalExchange price target raised to $130 from $123 at Raymond James

Raymond James analyst Patrick O’Shaughnessy raised the firm’s price target on IntercontinentalExchange (ICE) to $130 from $123 and keeps a Strong Buy rating on the shares after updating his model to reflect quarter-to-date trading volume data and also boosted his 2023 and beyond CDS clearing revenue estimates. He thinks more clarity on where the Black Knight (BKI) deal stands regarding regulatory approval could be a catalyst for the shares, O’Shaughnessy added.