Barclays Maintains an 'Overweight' on IntercontinentalExchange (ICE); Turning up the Heat
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Price: $161.25 +1.66%
Rating Summary:
23 Buy, 5 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
23 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on IntercontinentalExchange (NYSE: ICE), PT lowered by $1 to $150.
Barclays analyst says, "We are slightly lowering our 2011 EPS estimate to $6.80 from $6.87, as we flow through the higher-than-expected 1Q11 results, our updated volume forecast and management expense guidance."
"On the merger front, ICE management has been very aggressive in its defense of the proposed NDAQ/ICE acquisition of NYX. On the call, ICE stated the next step is to prepare, and file, its full offer with the SEC, after which it will look to continue to actively engage shareholders. ICE management also touched on many benefits of the deal -- from the benefits of an ICE-run Liffe business and a less fragmented cash equities market, to unlocking further value for NYX shareholders. That said, the ongoing merger dialog, coupled with a weak operating environment will keep fundamental investors on the sidelines, we believe."
For more ratings news on IntercontinentalExchange click here and for the rating history of IntercontinentalExchange click here.
Shares of IntercontinentalExchange closed at $114.85 yesterday.
Barclays analyst says, "We are slightly lowering our 2011 EPS estimate to $6.80 from $6.87, as we flow through the higher-than-expected 1Q11 results, our updated volume forecast and management expense guidance."
"On the merger front, ICE management has been very aggressive in its defense of the proposed NDAQ/ICE acquisition of NYX. On the call, ICE stated the next step is to prepare, and file, its full offer with the SEC, after which it will look to continue to actively engage shareholders. ICE management also touched on many benefits of the deal -- from the benefits of an ICE-run Liffe business and a less fragmented cash equities market, to unlocking further value for NYX shareholders. That said, the ongoing merger dialog, coupled with a weak operating environment will keep fundamental investors on the sidelines, we believe."
For more ratings news on IntercontinentalExchange click here and for the rating history of IntercontinentalExchange click here.
Shares of IntercontinentalExchange closed at $114.85 yesterday.
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