Keefe Bruyette resumed coverage of IntercontinentalExchange (ICE) with an Outperform rating and $190 price target Keefe resumed coverage of the exchanges and broker group with LPL Financial, Marex Group, Charles Schwab, and IntercontinentalExchange as top picks. AI-driven concerns have hit the group to varying degrees and recent geopolitical events are adding pressure to the broker space but providing support for the exchanges, the analyst tells investors in a research note. The firm believes the stocks are “near pivot points, presenting potentially interesting opportunities.” Among the sub-sectors, Keefe prefers wealth, exchanges, then e-brokerages.
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