IntercontinentalExchange price target raised to $164 from $154 at Rosenblatt

Rosenblatt raised the firm’s price target on IntercontinentalExchange to $164 from $154 and keeps a Buy rating on the shares after the company “closed out another record year” by topping consensus estimates for Q4. With futures volumes ramping to start the year, the firm expects “more of the same in 2024,” the analyst tells investors. The firm raised its FY24 and FY25 EPS estimates by 2% each to account for higher volume expectations, somewhat offset by a higher tax rate.