Raymond James Raises ICE Price Target, Sees Long-Term Strength in Energy Trading

Core Viewpoint - Raymond James raised its price target on Intercontinental Exchange (ICE) to $211.00 from $210.00, maintaining a Strong Buy rating, indicating confidence in the company's performance ahead of its fourth-quarter 2025 earnings [1] Group 1: Earnings and Trading Volumes - Futures trading volumes returned to growth during the quarter after a seasonal slowdown in the summer months, suggesting a rebound in trading activity [1] - The firm remains constructive on ICE, anticipating long-term benefits from the globalization of energy trading markets [1] Group 2: Financial Performance and Valuation - ICE's diversified platform is capable of generating attractive revenue and earnings growth across a wide range of market conditions, highlighting its resilience [2] - Shares are trading at approximately 22 times the firm's 2026 non-GAAP EPS estimate, with Raymond James describing the stock's risk-reward profile as favorable [2]