Piper Sandler raised the firm’s price target on IntercontinentalExchange (ICE) to $211 from $195 and keeps an Overweight rating on the shares. Heading into Q1 earnings, the firm expects management teams to strike a positive tone on the outlook for trading volumes, especially in futures as the Iran War continues to impact global energy and commodities markets. Piper is somewhat cautious on the tough year-over-year comparisons facing exchanges in Q2, but a continuation of the Iran War is a strong counter.
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