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.
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Read More on ICE:
- IntercontinentalExchange price target raised to $142 from $139 at Morgan Stanley
- IntercontinentalExchange price target raised to $155 from $153 at Barclays
- IntercontinentalExchange price target raised to $160 from $155 at Citi
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