Stock analysts at Jefferies Group set a $235.00 target price on shares of IntercontinentalExchange (NYSE:ICE) stock in a report issued on Wednesday, AmericanBankingNews.com reports. The firm currently has a a “buy” rating on the stock. Jefferies Group’s target price points to a potential upside of 13.85% from the stock’s previous close.
The analysts wrote, “With the NYX deal now complete, the focus turns to integration, execution and growth. While still early, the outlook for expense synergies and business segment optimization is underway. Even in a so-so environment for energy trading, the pro forma earnings power for the combined businesses is compelling, in our view. We are increasing our price target to $235 (up from $215).”
IntercontinentalExchange (NYSE:ICE) traded up 1.83% on Wednesday, hitting $210.205. 346,497 shares of the company’s stock traded hands. IntercontinentalExchange has a one year low of $122.72 and a one year high of $207.84. The stock has a 50-day moving average of $195.7 and a 200-day moving average of $182.6.
IntercontinentalExchange (NYSE:ICE) last announced its earnings results on Tuesday, November 5th. The company reported $1.97 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.83 by $0.14. The company had revenue of $338.00 million for the quarter, compared to the consensus estimate of $332.79 million. During the same quarter in the previous year, the company posted $1.79 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts predict that IntercontinentalExchange will post $8.14 earnings per share for the current fiscal year.
ICE has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. upgraded shares of IntercontinentalExchange from a “neutral” rating to an “overweight” rating in a research note to investors on Monday. Separately, analysts at BMO Capital Markets initiated coverage on shares of IntercontinentalExchange in a research note to investors on Monday. They set an “outperform” rating and a $224.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of IntercontinentalExchange in a research note to investors on Wednesday, November 6th. They now have a $208.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $196.00.
IntercontinentalExchange, Inc (NYSE:ICE) is an operator of global futures exchanges, over-the-counter (OTC), markets, derivatives clearing houses and post-trade services.
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