J.P. Morgan Maintains Overweight on The Intercontinental Exchange (ICE)

J.P. Morgan is out with its report today on The Intercontinental Exchange (NYSE: ICE), maintaining Overweight after Q4 10 results.

In a note to clients, J.P. Morgan writes, "ICE reported 4Q10 EPS of $1.35 vs. our $1.32 estimate primarily, based on slightly better top-line performance and a lower tax rate, offset somewhat by higher expenses. It was a clean and good quarter with the UK and US futures volumes strong, and a nice recovery in OTC franchise volumes in 1Q11TD. We maintain our Overweight rating with ICE as a favorite long-term investment due to strong management and a strong growing business mix and meaningful opportunities to pursue in the OTC and futures businesses."

J.P. Morgan has a $139 PT on ICE.

Shares of ICE closed Wednesday at $123.13.