BofA lowered the firm’s price target on IntercontinentalExchange (ICE) to $227 from $230 and keeps a Buy rating on the shares. Ahead of Q1 earnings from exchange group, the firm embeds the most recent monthly volume and fee rate disclosures into its models, leading it to modestly lower earnings estimates for Intercontinental Exchange, Nasdaq (NDAQ), MarketAxess (MKTX) and Tradeweb (TW) given a slightly softer March fee rate than expected.
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Read More on ICE:
- Trump Media (DJT) Demands an SEC Probe into Qube’s $105M Short Bet
- Citi adds two, removes two from North America Focus List
- IntercontinentalExchange price target lowered to $180 from $191 at TD Cowen
- IntercontinentalExchange price target raised to $181 from $178 at Morgan Stanley
- IntercontinentalExchange reports March average daily volume up 31%
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