IntercontinentalExchange (ICE) PT Lowered to $80 at Deutsche Bank on 4Q Report; 'Lower 2018 EPS Outlook, but Progress on Growth Initiatives Steady'
Deutsche Bank lowered its price target on IntercontinentalExchange (NYSE: ICE) to $80.00 (from $82.00) while maintaining a Buy rating, following the company's fourth quarter earnings report.
Analyst Brian Bedell notes a reduced price target on the shares, as the company reported fourth quarter earnings per share results above consensus, with revenues in-line fueled by strong volumes and market data outlook, despite a mixed 2018 outlook due to higher than expected expenses and higher tax rate.