Jefferies Lifts Price Target On IntercontinentalExchange (ICE) to $150 Following Q4

Jefferies raised estimates and its price target on IntercontinentalExchange (NYSE: ICE) from $145 to $150 following solid Q4 non-GAAP EPS of $1.76, which was ahead of the firm's $1.71 estimate and consensus of $1.68.

The firm comments, "The primary driver of the beat was a lower tax rate. More importantly, 2012 is off to a strong start as OTC daily commissions are averaging over $2.0M in 1Q thus far (+20% q/q) and despite modestly lower futures volumes, total revenues are up +10% y/y."

Q1 EPS was raised from $1.96 to $2.05 and FY12 from $7.80 to $8.10.

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 $130.08 yesterday.

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