UBS Cuts PT and Estimates on IntercontinentalExchange (ICE); Shares Still Attractive on Relative Basis
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Price: $177.41 +1.95%
Rating Summary:
12 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
12 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade ICE Now!
UBS maintains a 'Buy' on IntercontinentalExchange (NYSE: ICE) price target lowered from $164 to $153.
Analyst, Alex Kramm, said, "ICE shares were weak following 1Q12 results. We believe the weakness was driven by an unexpected slowdown in the OTC energy business in April, which is pressuring estimates. Despite the slowdown in that particular business, we believe the ICE story remains strong. ICE was the
only exchange to show top-line growth in 1Q12 (and double-digit EPS growth) and the company’s futures business is also supporting growth so far this quarter. At a minor premium to CBOE and CME, we believe ICE shares are attractive on a relative basis, despite industry challenges."
UBS cuts FY12 EPS estimate from $8.06 to $7.65 and FY13 from $9.07 to $8.80.
For an analyst ratings summary and ratings history on IntercontinentalExchange click here. For more ratings news on IntercontinentalExchange click here.
Shares of IntercontinentalExchange closed at $127.85 yesterday, with a 52 week range of $102.57-$142.75.
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Analyst, Alex Kramm, said, "ICE shares were weak following 1Q12 results. We believe the weakness was driven by an unexpected slowdown in the OTC energy business in April, which is pressuring estimates. Despite the slowdown in that particular business, we believe the ICE story remains strong. ICE was the
only exchange to show top-line growth in 1Q12 (and double-digit EPS growth) and the company’s futures business is also supporting growth so far this quarter. At a minor premium to CBOE and CME, we believe ICE shares are attractive on a relative basis, despite industry challenges."
UBS cuts FY12 EPS estimate from $8.06 to $7.65 and FY13 from $9.07 to $8.80.
For an analyst ratings summary and ratings history on IntercontinentalExchange click here. For more ratings news on IntercontinentalExchange click here.
Shares of IntercontinentalExchange closed at $127.85 yesterday, with a 52 week range of $102.57-$142.75.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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