IntercontinentalExchange price target raised to $181 from $178 at Morgan Stanley

Morgan Stanley analyst Michael Cyprys raised the firm’s price target on IntercontinentalExchange (ICE) to $181 from $178 and keeps an Equal Weight rating on the shares. In a tougher macro backdrop with greater need to hedge risks, the firm sees upside to exchanges volumes, most notably rates, credit and index options. The exchanges are “a defensive safe haven” in periods of uncertainty given greater need by market participants to manage and hedge risks, the analyst tells investors.