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Tuesday, December 28, 2010

Goldman Raises Estimates and Price Target on Intercontinental Exchange (ICE)

Goldman Sachs (NYSE:GS) commented on several exchanges, with most of them expected to increase in volume, some with margins, and all being affected - for better and worse - by their exposure to currencies. In the case of Intercontinental Exchange (NYSE:ICE), they don't see the U.S. dollar helping them in any way.

Goldman does see them improving in the fourth quarter, citing volume trends for them increasing.

Goldman raised their EPS estimates for 4Q10, 2010, 2011, and 2012 from $1.35, $5.65, $6.25, and $6.90 to $1.40, $5.69, $6.30, and $6.95.

In the near term Goldman sees Intercontinental Exchange increasing their energy volume and clearing revenues, although margins appear to be under pressure. There is also the probability of regulations negatively affecting them.

Goldman reiterates their "Neutral" rating on Intercontinental Exchange, which closed Monday at $120.86, up $0.86, or 0.72 percent. They raised their price target on them to $130.

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