Credit Suisse boosted its price target on IntercontinentalExchange (ICE) on Wednesday morning. Here’s what the move means for mutual fund investors.
Inside the Analyst Move
Credit Suisse has maintained its “Outperform” rating on ICE and has boosted its price target from $225 to $245. This new price target suggests a 13% upside from the stock’s current price.
According to the firm, strong earnings are expected in 2015, despite the lag in 2014.
Good Pick for Exposure to Exchanges
IntercontinentalExchange is a combination of various exchanges including the NYSE and Euronext. For investors seeking exposure to financial marketplaces, ICE may be one of the best choices. On a valuation basis, the stock is fairly valued at just 18x 2015 earnings estimates.
Mutual Funds to Watch
Investors interested in ICE may be interested in the funds listed below. These funds currently hold the largest stakes in the company.