Bank of America has revised its price target for Intercontinental Exchange (ICE, Financial), lowering it to $227 from a previous target of $230, while maintaining a Buy rating on the stock. This adjustment comes as the firm incorporates recent volume and fee rate data into its models, ahead of the first-quarter earnings reports from the exchange group.
The firm anticipates slightly reduced earnings for several major exchange companies, including Intercontinental Exchange, Nasdaq (NDAQ), MarketAxess (MKTX), and Tradeweb (TW). This adjustment is attributed to softer-than-expected fee rates in March, leading to the modest downgrades in earnings projections.
Despite the minor revision in its price target, the Buy rating suggests confidence in Intercontinental Exchange's long-term performance, even as current market data prompts cautious adjustments for the near term.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 14 analysts, the average target price for Intercontinental Exchange Inc (ICE, Financial) is $189.14 with a high estimate of $227.00 and a low estimate of $162.00. The average target implies an upside of 22.00% from the current price of $155.03. More detailed estimate data can be found on the Intercontinental Exchange Inc (ICE) Forecast page.
Based on the consensus recommendation from 18 brokerage firms, Intercontinental Exchange Inc's (ICE, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Intercontinental Exchange Inc (ICE, Financial) in one year is $117.42, suggesting a downside of 24.26% from the current price of $155.03. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Intercontinental Exchange Inc (ICE) Summary page.
