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Fly News Breaks for February 7, 2020
EBAY, ICE
Feb 7, 2020 | 07:38 EDT
JPMorgan analyst Kenneth Worthington expects IntercontinentalExchange (ICE) will accelerate its new buyback authorization to take advantage of the recent selloff in the shares. The company's announcement last night that it was ceasing to explore strategic alternatives with eBay (EBAY) "should provide some relief to the shares," Worthington tells investors in a research note. He keeps an Overweight rating on IntercontinentalExchange with a $98 price target.