Morgan Stanley Maintains Equal-Weight Rating for Intercontinental Exchange: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has maintained its Equal-Weight rating for Intercontinental Exchange (NYSE:ICE) but lowered its price target from $124.00 to $118.00. Shares of ICE are currently trading down 1.95% at $112.41 per share. A move to $118.00 would account for a 4.97% increase from the current share price.
September 06, 2023 | 5:00 pm
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Morgan Stanley has maintained its Equal-Weight rating for Intercontinental Exchange but lowered its price target. This could potentially lead to a short-term decrease in ICE's stock price.
Morgan Stanley's decision to maintain its Equal-Weight rating for ICE indicates a neutral outlook for the company. However, the lowering of the price target from $124.00 to $118.00 could potentially lead to a decrease in the stock price in the short term as it suggests that the analyst believes the stock is currently overvalued.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100