Jackson Benjamin sold $2.1M of ICE

Keefe Bruyette & Woods maintained an Outperform rating and $170 price target for Intercontinental Exchange (NYSE: ICE), citing strong long-term energy outlook and data center growth. ICE reported Q2 adjusted EPS of $1.90, revenue of $2.67B, and record recurring revenue of $1.4B. The company announced a $5.7B deal to acquire MarketAxess Holdings and introduced precious metals futures in London.

Barclays raised its price target for Intercontinental Exchange from $182 to $189. The stock closed at $153.49, up 0.88% on the day and 0.85% over a year, but down 5.23% over 5 days. The update reflects changes in valuation and earnings estimates.

ICE launched precious metals futures trading in London, linked to daily gold price auctions. The market includes contracts for gold, silver, platinum, and palladium. London's physical gold market handles $190 billion daily, with $1.4 trillion in vaults. ICE aims to capitalize on its existing role in London's physical metals market.

GE Vernova (GEV) shares rose 4.6% after Evercore ISI raised earnings growth estimates and highlighted profitability in its wind business. The company reported a record $176B order backlog. Intercontinental Exchange (ICE) and OKX filed SEC paperwork for 24/7 tokenized stock trading, including Nvidia and Tesla, with ICE stock having a Moderate Buy rating and $177.91 avg. price target.

TD Cowen downgraded Intercontinental Exchange (ICE) to Hold, citing macroeconomic concerns and business shifts. The analyst lowered the 12-month price target to $166. ICE's GF Value™ suggests it is 9.1% undervalued, with a strong GF Score™ of 88. Insiders sold $92.9M in shares over the past year, with no purchases.

TD Cowen downgraded Intercontinental Exchange (ICE) to Hold from Buy, citing a balance between the company's business mix and macroeconomic factors. The stock is expected to remain range-bound.