Compass Point Starts IntercontinentalExchange (ICE) at Buy; Impressive Assets and Growth
Tweet
Share
E-mailGet Alerts ICE Hot Sheet
Price: $131.86 -0.36%
Rating Summary:
21 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 14
Rating Summary:
21 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 14
Join SI Premium – FREE
Compass Point initiates coverage on IntercontinentalExchange (NYSE: ICE) with a Buy. PT $150.00.
The firm comments, "The company's collection of assets and track record of growth is impressive. Over the 2007-2011 period compound annual growth was 23% on the top line, 20% in terms of net profits attributable to common shareholders, and 25% in terms of operating cash flow. Future growth prospects remain bright. Share gains in Brent have been substantial. The NYSE Euronext acquisition makes ICE the world's #3 global derivatives exchange. The successful CDS venture demonstrates management can execute. We forecast FY'13 EPS of $9.65 assuming the NYX transaction closes at the start of 3Q'13 implying total earnings growth of 27% on the year of which 13% is attributable to NYX. We consider the shares attractively priced trading at ~13x our estimate of FY'13 EPS and at ~12x current enterprise value adjusted for the NYX acquisition relative to our estimate of FY'13 free cash flow."
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 $127.18 yesterday.
The firm comments, "The company's collection of assets and track record of growth is impressive. Over the 2007-2011 period compound annual growth was 23% on the top line, 20% in terms of net profits attributable to common shareholders, and 25% in terms of operating cash flow. Future growth prospects remain bright. Share gains in Brent have been substantial. The NYSE Euronext acquisition makes ICE the world's #3 global derivatives exchange. The successful CDS venture demonstrates management can execute. We forecast FY'13 EPS of $9.65 assuming the NYX transaction closes at the start of 3Q'13 implying total earnings growth of 27% on the year of which 13% is attributable to NYX. We consider the shares attractively priced trading at ~13x our estimate of FY'13 EPS and at ~12x current enterprise value adjusted for the NYX acquisition relative to our estimate of FY'13 free cash flow."
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 $127.18 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Amphenol (APH) Tops Q1 EPS by 7c, offers guidance
- Xiaomi's 2024 investor day will boost confidence - Morgan Stanley
- The post-earnings selloff has created a buying opportunity in this stock - Argus
Create E-mail Alert Related Categories
New CoverageRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
