Barclays Maintains an 'Overweight' on IntercontinentalExchange (ICE); September Operating Metrics

Barclays maintains an 'Overweight' on IntercontinentalExchange (NYSE: ICE) price target raised $4 to $154.00.

Barclays analyst says, "ICE reported sequentially improved metrics coming off of a strong August led by strength in both ICE Futures U.S. average daily volume (ADV) and in ICE Futures Europe ADV. 3Q11 total volumes of 1.6m finished 6% above our forecast of 1.5m, but this should not be a surprise to investors given the exchange reports volumes on a daily basis. OTC Average Daily Commissions (ADC) came in at $1.54m vs. $1.54m we had forecast and CDS revenues came in at $45m vs. the $41m we anticipated. Rounding out the release, RPC trends for ICE were overall roughly in line with our forecast. We view ICE's results as solid by meeting or exceeding almost all of our expectations (ADV, CDS revenues, and OTC ADC)."

For more ratings news on IntercontinentalExchange click here and for the rating history of IntercontinentalExchange click here.

Shares of IntercontinentalExchange closed at $121.26 yesterday.

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