Raymond James analyst Patrick O’Shaughnessy upgraded IntercontinentalExchange (ICE) to Strong Buy from Outperform with an unchanged price target of $210 ahead of the Q3 earnings report. While a lack of market volatility and the absence of major hurricanes impacting North America were a negative for ICE’s energy futures trading volumes in Q3, this is a “temporary lull,” the analyst tells investors in a research note. The firm believes ICE remains well positioned in the long-term to capitalize on the globalization of energy trading. Raymond James views the stock’s risk/reward as attractive following the recent selloff.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ICE:
- Crypto Currents: Coinbase, Mastercard in talks to acquire stablecoin firm BVNK
- Kalshi raising over $300M in funds at $5B valuation, NY Times reports
- IntercontinentalExchange price target lowered to $201 from $212 at Barclays
- Cautious Optimism: Evaluating Intercontinental Exchange’s Strategic Investment in Polymarket
- Intercontinental Exchange Invests $2 Billion in Polymarket