Wells Fargo Resumes IntercontinentalExchange (ICE) at Outperform

August 27, 2013 7:18 AM EDT
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Price: $57.40 +0.77%

Rating Summary:
    15 Buy, 6 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Wells Fargo initiated coverage on IntercontinentalExchange (NYSE: ICE) with an Outperform rating and a price target of $210-$230. Analyst Christopher Harris believes the acquisition of NYX is a major catalyst for earnings growth.

"Our positive view is based on the considerable upside potential to EPS we see from the acquisition of NYX, not to mention continued growth in the core business. While ICE is a much-loved name that is up materially YTD, we don't think investors fully appreciate the benefits of the NYX deal. We set 2013/2014/2015 EPS estimates of $8.24/$10.70/$13.00, which contemplates the NYX deal closing by the end of Q3 this year."

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 $183.37 yesterday.

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