Citi analyst Christopher Allen raised the firm’s price target on IntercontinentalExchange to $160 from $155 and keeps a Buy rating on the shares. The analyst updated estimates to reflect current volume and pricing trends, tweaks to the firm’s mortgage outlook, and minor adjustments to expense expectations. ICE remains one of Citi’s favorite names in the exchange space given the ongoing momentum across the energy complex, improving outlook in its fixed income business, and continued client wins in the mortgage business.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ICE:
- Lennar Mortgage moves servicing ops to Intercontinental Exchange technology
- ICE reports February total ADV up 19% y/y, OI up 21% y/y
- IntercontinentalExchange files automatic mixed securities shelf
- Intercontinental Exchange Streamlines Debt and Amends Note Terms
- Bakkt announces $40M registered direct offering, $10M concurrent RDO
