Raymond James analyst Patrick O’Shaughnessy raised the firm’s price target on IntercontinentalExchange to $185 from $174 and keeps a Strong Buy rating on the shares. Total average daily volume finished ahead of the firm’s forecast and the Street, while pricing was somewhat mixed vs. expectations, but total ADV was the firm’s third best ever quarter as most of the firm’s major product categories were stronger, including a robust energy and financials franchise, the analyst tells investors in a research note. The outlook for mortgage origination volumes has also improved since the last update, with higher refinancing activity leading to positive revisions in both 2024 and 2025, the firm says.
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 $175 from $168 at BofA
- ICE: September total average daily volume up 29%,open interest up 16% y/y
- IntercontinentalExchange price target raised to $185 from $171 at Goldman Sachs
- RBC Has a New Play for Investors: ‘Go Long on US Exchange Stocks’
- IntercontinentalExchange initiated with an Outperform at RBC Capital