Exchange Operator Hit With Morgan Stanley Upgrade

The majority of analysts covering ICE are bullish

Laura McCandless

Deputy Editor

Jul 1, 2024 at 10:18 AM

Financial services name Intercontinental Exchange Inc (NYSE:ICE) received an upgrade from Morgan Stanley to "buy from "neutral" before the bell this morning. The firm holds a $167 price target on ICE, a 22% premium to Friday's close. At last glance, ICE was reversing earlier gains, down 0.08% at $136.78.

The stock finished eight of the last 10 trading sessions higher. Climbing back up toward the $140 level, home to its March 7 record high of $140.43 and a consistent line of pressure on the charts, ICE is up 6.6% year to date.

Of the 17 analysts in coverage, 15 now carry a "buy" or better rating, with just two a tepid "hold." The 12-month consensus price target of $155.62 represents 13.1% upside.

Though ICE's options pits are typically quiet, it might not be a bad idea to speculate with calls or puts. The stock's Schaeffer's Volatility Index (SVI) of 14% sits higher than just 3% of readings from the past year, meaning premium is well-priced due to low volatility expectations.

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.