Citi analyst Christopher Allen raised the firm’s price target on IntercontinentalExchange to $146 from $130 and keeps a Buy rating on the shares. The analyst remains constructive on the fundamental outlook for the exchange space overall in 2024. The firm expects healthy trading activities in rates, credit and energy. While the group could see some rotation pressure following the strong performance in 2023, the long-term growth stories remain intact, the analyst tells investors in a research note.
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