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Barclays Maintains Intercontinental Exchange(ICE.US) With Buy Rating, Raises Target Price to $179

Futu News ·  Oct 7, 2024 07:32  · Ratings

Barclays analyst Benjamin Budish maintains $Intercontinental Exchange (ICE.US)$ with a buy rating, and adjusts the target price from $167 to $179.

According to TipRanks data, the analyst has a success rate of 77.6% and a total average return of 15.0% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $Intercontinental Exchange (ICE.US)$'s main analysts recently are as follows:

  • Lower interest rates and a tepid recovery in deal-making activities pose downside risks to a majority of capital markets stocks as they head into Q3 reporting. The anticipation of hastened rate reductions and a surge in equity markets have spurred risk-on behavior among many capital markets equities. Nonetheless, sluggish deal activity rates persist as a drag for numerous alternative managers amidst significantly high valuation multiples. Concurrently, traditional managers generally saw a dip in organic growth during Q3, while reduced interest rates stand as a substantial threat to the earnings of most brokerage and wealth management firms. Despite these challenges, exchanges and trust banks are perceived as relatively more resilient going into the Q3 results.

  • The firm is adjusting its estimates and targets for the exchanges sector in light of new data points presented in a Q3 preview, as shared by an analyst.

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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