Morgan Stanley analyst Michael Cyprys raised the firm’s price target on IntercontinentalExchange to $142 from $139 and keeps an Equal Weight rating on the shares. In a preview for the Brokers and Exchanges group, the firm notes that its Q1 EPS estimates are revised 1% lower across brokers, 4% higher across market infrastructure names and 1% higher across exchanges on average. Across the group, the firm’s price targets are 13% higher on average for 9% upside, driven by a 12% lift in target 2024 multiples and 2% higher 2025 EPS estimates on average.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ICE:
- IntercontinentalExchange price target raised to $155 from $153 at Barclays
- IntercontinentalExchange price target raised to $160 from $155 at Citi
- IntercontinentalExchange reports March total ADV up 4% y/y, OI up 20% y/y
- Lennar Mortgage moves servicing ops to Intercontinental Exchange technology
- ICE reports February total ADV up 19% y/y, OI up 21% y/y