10:55 AM EDT, 05/02/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We decrease our 12-month target by $10 to $155, reflecting a P/E of 23.2x our 2025 EPS estimate, a premium to ICE's 10-year average of 21.3x given an improved margin profile. We increase our 2024 EPS estimate by $0.10 to $6.03 and raise 2025's by $0.04 to $6.69. ICE posted Q1 adjusted EPS of $1.48 vs. $1.41, missing consensus by $0.01. Adjusted revenue growth of 5% was driven by record results in the Exchange segment (+11%) on elevated activity in global oil and global gas. Unfortunately, a slowdown was seen in Fixed Income & Data Services (+1% vs. +4% in Q4) as a recovery in data & analytics was countered by weakness in CDS clearing. Additionally, Mortgage Technology (-3%) disappointed as recurring revenues were impacted by both industry consolidation and pressure on renewals within the origination technology business. Still, we continue to view ICE as one of the most resilient companies in the Financial sector and note Q1 results included record revenues, record adjusted operating income, and record EPS.