Keefe, Bruyette & Woods Reiterates Outperform Rating on Intercontinental Exchange (ICE)

Keefe, Bruyette & Woods analyst Kyle Voigt reiterated an Outperform rating and $183.00 price target on Intercontinental Exchange (NYSE: ICE).

The analyst said: "ICE total futures ADV in 4Q24 came in -2% below our estimate for the quarter. Cash equities ADV was +8% above our quarterly estimate and equity options ADV came in +3% above our quarterly estimate. Revenue capture info for the three-months ended December came in generally lower vs. our full 4Q24 estimates. 4Q24 CDS revenue was also below our forecast.

Total Futures Volumes Lower – ICE total futures ADV came in -2% below our estimate for the quarter. Energy futures ADV of 4.4 mln contracts came in -2% below our 4Q24 estimate and interest rate futures ADV of 3.3 mln contracts came in -2% below our 4Q24 estimate. Ags & Metals futures ADV of 404K was -11% below our 4Q24 estimate, while equity index derivatives and FX futures ADV of 391K came inline with our estimate for the quarter."

For an analyst ratings summary and ratings history on Intercontinental Exchange click here. For more ratings news on Intercontinental Exchange click here.

Shares of Intercontinental Exchange closed at $146.58 yesterday.

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