Piper Sandler lowers Arbor Realty Trust stock price target on credit issues
Investing.com - JPMorgan has lowered its price target on Intercontinental Exchange (NYSE:ICE) to $180.00 from $202.00 while maintaining an Overweight rating on the stock. ICE currently trades at $148.52, down significantly from its 52-week high of $189.35, with InvestingPro data showing the stock is trading near its 52-week low of $142.29.
The adjustment follows ICE’s third-quarter 2025 adjusted earnings per share of $1.71, which exceeded both JPMorgan’s estimate and Bloomberg consensus of $1.60.
Revenue aligned with expectations at $2,411 million, with the earnings beat primarily attributed to well-controlled expenses and certain one-time items. Adjusted operating expenses came in lower than anticipated at $981 million compared to consensus estimates of $997 million.
JPMorgan noted that despite softer top-line performance in ICE’s exchange and mortgage business, the company demonstrated solid expense discipline during the quarter.
The price target reduction reflects lowered IMT revenue expectations, adjustments for interest expense related to commercial paper drawdown for Polymarket, and a decreased IMT multiple in JPMorgan’s sum-of-the-parts valuation.
In other recent news, Intercontinental Exchange announced a 7% increase in its quarterly dividend for the fourth quarter of 2025. The new dividend will be $0.48 per share, up from $0.45 per share in the fourth quarter of 2024, and will be payable on December 31, 2025. Additionally, Raymond James upgraded Intercontinental Exchange’s stock rating to Strong Buy from Outperform, maintaining a price target of $210.00. This upgrade comes despite challenges such as reduced market volatility and a lack of major hurricanes affecting energy futures trading volumes. In another development, Intercontinental Exchange has committed up to $2 billion in a strategic investment in the prediction market platform Polymarket. This investment values Polymarket at approximately $8 billion before the investment and positions Intercontinental Exchange as a global distributor of Polymarket’s event-driven data. Keefe, Bruyette & Woods has reiterated an Outperform rating on Intercontinental Exchange with a $202.00 price target following this investment. These developments highlight the company’s ongoing strategic initiatives and financial adjustments.
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