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Intercontinental Exchange Poised For Breakout, Goldman Sachs Says: What’s Behind 22% Upside Projection?

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Intercontinental Exchange Inc. (NYSE:ICE) is ready to sizzle, riding a wave of structural tailwinds and cyclical recoveries that promise substantial gains. As a key player in the financial and commodities markets, the exchange promises an exciting growth trajectory that investors won’t want to miss.

Goldman Sachs Upgrade: A Strong Buy

Goldman Sachs‘ analyst Alexander Blostein has upgraded Intercontinental stock to a Buy from Neutral, setting a 12-month price target of $167, indicating a potential 22% upside from a price of $136.89.

Anticipated earnings per share (EPS) growth backs this optimistic forecast. After experiencing less than 10% EPS growth over the past three years, Blostein expects Intercontinental’s EPS to climb into the low teens by 2025 and beyond.

Energy Markets: Driving Force Behind Growth

Blostein expects the energy market to fuel over 25% revenue growth for the exchange in 2024, with an estimated 8%-10% growth in subsequent years. The market alone, account for about 30% of Intercontinental’s earnings.

Intercontinental’s robust performance in …

Full story available on Benzinga.com

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