- Intercontinental Exchange is down 30% year-to-date as a result of market panic, mortgage weakness, and the announced deal to buy Black Knight.
- ICE has a stellar balance sheet, very high free cash flow, and a big benefit from the Black Knight deal given its current business model.
- While buybacks have been paused, I have zero doubt that ICE will provide its investors with strong, double-digit dividend growth and accelerating buybacks.
- It's hard to call for a bottom, but the current valuation of ICE stock is causing me to turn bullish.
For further details see:
Why Intercontinental Exchange Is A Dividend Growth 'Must-Own'