KBW Has Outperform On Intercontinental Exchange

KBW has an Outperform rating and a $140 price target on shares of Intercontinental Exchange, Inc. ICE. In a note to clients, KBW writes, "We caught up with Jeff Sprecher, CEO, and David Goone, Chief Strategic Officer when we visited their expanding Chicago office where ICE is building its clearing operations. Management remains bullish on the company's prospects in OTC clearing and the core Brent oil contracts growth potential. In addition, initiatives that have been on the boil for some time are delivering positive early returns." Shares of ICE lost $1.12 on Friday to close at $128.40, a loss of 0.86%.