UPDATE: Credit Suisse Starts IntercontinentalExchange (ICE) at Outperform
- S&P 500 ends slightly lower after jobs report
- U.S. job juggernaut rolled on in November; nonfarm payrolls up 263,000
- We are selling risk rallies - Bank of America's Hartnett
- United Airlines (UAL) nearing deal to order dozens of Boeing 787 Dreamliners - WSJ
- Meta Platforms says metaverse could contribute over $3 trillion to global GDP by 2031
Credit Suisse analyst Gautam Sawant initiates coverage on IntercontinentalExchange (NYSE: ICE) with a Outperform rating and a price target of $160.00.
The analyst comments "We are initiating coverage of Intercontinental Exchange (ICE) with an Outperform rating and a $160 target price. ICE is a global provider of market infrastructure, data/analytics services, and technology solutions for a broad range of asset complexes including futures, equities, fixed income, and US residential mortgages. The company operates three primary business segments (Exchanges, Fixed Income & Data Services, and Mortgage Technology) that benefit from secular and macro tailwinds including electronification, datafication, and trading automation. We believe demand for ICE’s data and technology is paving the way for the company to generate durable organic growth supported by its network of transaction-oriented businesses."
Shares of IntercontinentalExchange closed at $124.84 yesterday.
You May Also Be Interested In
- IAC/Interactive Corp (IAC) has no near-term catalysts, limited scope - UBS
- BofA Securities Reinstates KBR, Inc. (KBR) at Buy
- RHI Magnesita (RHIM:LN) (RHHMY) PT Raised to GBP26.90 at Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesCredit Suisse
Sign 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!