Intercontinental Exchange Poised For Breakout, Goldman Sachs Says: What's Behind 22% Upside Projection?
Portfolio Pulse from Surbhi Jain
Goldman Sachs has upgraded Intercontinental Exchange Inc. (NYSE: ICE) to a Buy with a 12-month price target of $167, indicating a 22% upside. Key growth drivers include energy markets, fixed-income data, and mortgage technology segments. The company is expected to see EPS growth into the low teens by 2025, with significant revenue growth in energy markets and margin expansion.
July 01, 2024 | 3:52 pm
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Goldman Sachs has upgraded Intercontinental Exchange Inc. (NYSE: ICE) to a Buy with a 12-month price target of $167, indicating a 22% upside. Key growth drivers include energy markets, fixed-income data, and mortgage technology segments. The company is expected to see EPS growth into the low teens by 2025, with significant revenue growth in energy markets and margin expansion.
The upgrade from Goldman Sachs to a Buy rating with a 22% upside target is a strong positive signal for ICE. The anticipated growth in EPS, driven by energy markets, fixed-income data, and mortgage technology, supports a bullish outlook. Additionally, margin expansion and share repurchases add to the positive sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100