Citigroup Maintains Buy Rating for Intercontinental Exchange: Here's What You Need To Know

Citigroup has decided to maintain its Buy rating of Intercontinental Exchange ICE and raise its price target from $146.00 to $155.00.

Shares of Intercontinental Exchange are trading down 0.38% over the last 24 hours, at $134.95 per share.

A move to $155.00 would account for a 14.86% increase from the current share price.

About Intercontinental Exchange

Intercontinental Exchange is a vertically integrated operator of financial exchanges and provides ancillary data products. Though the company is probably best known for its ownership of the New York Stock Exchange, which it acquired in 2013, ICE operates a large derivatives exchange, too. The company's largest commodity futures product is the ICE Brent crude futures contract. In addition to the exchanges business, which is about 56% of net revenue, Intercontinental Exchange has used a series of acquisitions to create its mortgage technology business (15% of net revenue) and fixed-income and data services segment (29% of net revenue).

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.