Barclays Maintains an 'Overweight' on IntercontinentalExchange (ICE); Executing at a High Level
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Price: $161.25 +1.66%
Rating Summary:
23 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
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) price target raised $2 to $156.00.
Barclays analyst says, "ICE 3Q11 EPS of $1.87 (adjusting for one-off items) came in well ahead of our $1.80 and the Street $1.77 estimate. Overall, the results were very solid with operating income coming in slightly above our above-consensus estimate for the quarter. We would also note that while the tax rate was a large driver of the outsized beat (and there were admittedly some one-time charges helping move the rate lower), we believe it highlights a nice trend as we have seen the company's tax rate move lower over the course of the year as more business comes from the U.K. and U.K. tax rate moves lower."
"We are raising our 2011 EPS estimate to $7.10 from $6.98, as we flow through ICE's 3Q11 results, our updated volume forecast and management guidance."
For more ratings news on IntercontinentalExchange click here and for the rating history of IntercontinentalExchange click here.
Shares of IntercontinentalExchange closed at $122.62 yesterday.
Barclays analyst says, "ICE 3Q11 EPS of $1.87 (adjusting for one-off items) came in well ahead of our $1.80 and the Street $1.77 estimate. Overall, the results were very solid with operating income coming in slightly above our above-consensus estimate for the quarter. We would also note that while the tax rate was a large driver of the outsized beat (and there were admittedly some one-time charges helping move the rate lower), we believe it highlights a nice trend as we have seen the company's tax rate move lower over the course of the year as more business comes from the U.K. and U.K. tax rate moves lower."
"We are raising our 2011 EPS estimate to $7.10 from $6.98, as we flow through ICE's 3Q11 results, our updated volume forecast and management guidance."
For more ratings news on IntercontinentalExchange click here and for the rating history of IntercontinentalExchange click here.
Shares of IntercontinentalExchange closed at $122.62 yesterday.
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