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Fly News Breaks for November 20, 2018
ICE
Nov 20, 2018 | 07:29 EDT
Berenberg analyst Chris Turner downgraded IntercontinentalExchange to Hold from Buy and lowered his price target for the shares to $87 from $92. The structural growth in ICE's data business remains on track, but the 6% revenue growth is "less compelling in a world of elevated trading volumes," Turner tells investors in a research note. Further, he believes the company's initiatives in U.S. mortgages, electronic fixed income trading and blockchain are unlikely to make a material contribution to earnings for some time.
News For ICE From the Last 2 Days
ICE
Apr 19, 2024 | 06:44 EDT
BofA lowered the firm's price target on IntercontinentalExchange (ICE) to $153 from $156 and keeps a Buy rating on the shares. Although the firm thinks the exchange vertical has less leverage to a continuation in the market rally than its covered asset managers, it continues to see meaningful upside potential in IntercontinentalExchange and Tradeweb Markets (TW) over the next 12 months as it sees significant runway left in the electronification of both the mortgage and fixed income markets, the analyst tells investors.
