CBOE - Interncontinental Exchange stock climbs after Goldman lifts price target

Intercontinental Exchange (NYSE:ICE) stock gains 3.0%, outpacing other financial exchanges, after Goldman Sachs analyst Alexander Blostein boosts his price target on the stock on the premise that the Street is underappreciating its growth potential. Sees ~3-5% EPS upside vs. Visible Alpha consensus in 2022-2023; that "leaves the stock meaningfully mis-priced (24x NTM P/E the lowest among Exchange and Data Services peers)," Blostein writes in a note to clients. Lifts 12-month price target to $145 from $143; implies 22% from Wednesday's close; Buy-rated ICE is on Goldman's Americas Conviction List. Goldman recently hosted management meetings with ICE segment business heads Lynn Martin, president of Fixed Income and Data Services; Stuart Williams, president of ICE Futures Europe; and Joe Tyrell, president of ICE Mortgage Technology. Blostein points to specific opportunities, including new financial energy markets due to shift to de-carbonization and the globalization of natural gas, automation of fixed index markets, indexation,

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Interncontinental Exchange stock climbs after Goldman lifts price target