Jefferies Has Hold On Intercontinental Exchange After Earnings (ICE)

Jefferies & Co. has a Hold rating and a $130 price target on shares of Intercontinental Exchange ICE after the company reported earnings. In a note to investors, Jefferies writes, "Yesterday ICE reported 1Q non-GAAP EPS of $1.77, a new quarterly record. The result was notably better than our estimate and consensus, and despite a relatively quiet April, the core business remains solid. However, the focus continues to be the battle to acquire NYX. While the NDAQ/ICE proposal remains economically superior, at in the least short-term, it faces an uphill battle to win NYX shareholder and regulatory approval." Shares of ICE lost $1.60 yesterday to close at $114.85, a loss of 1.37%.