IntercontinentalExchange price target raised to $134 from $129 at Deutsche Bank

Deutsche Bank analyst Brian Bedell raised the firm’s price target on IntercontinentalExchange (ICE) to $134 from $129 and keeps a Buy rating on the shares. The analyst says the company’s updated Black Knight (BKI) financial targets appear positive longer-term. The firm is “especially encouraged” by ICE’s mortgage technology strategy and “more promising” longer-term growth potential, even considering some minor near-term earnings dilution. It sees the deal closure and incremental revenue growth potential as a catalyst for a positive valuation re-rating of the shares and reiterates ICE as its top pick in the exchange sector.