UPDATE: Keefe, Bruyette & Woods Reiterates On Intercontinental Exchange On Raised Estimates

In a report published Monday, Keefe, Bruyette & Woods analyst Niamh Alexander reiterated an Outperform rating on Intercontinental Exchange Inc (NYSE: ICE), and raised the price target from $245.00 to $257.00.

In the report, Keefe, Bruyette & Woods noted, “Every cloud has its sliver lining and the drop in oil prices and recent elevation in volatility is good for ICE's as well as CME's energy complex. While we're not boosting growth significantly, growth from a better base drives our forward estimates up slightly boosting our 4Q14 EPS estimate to $2.52, and we expect some of the heightened volatility to persist into 2015 driving up forward estimates.”

Intercontinental Exchange closed on Friday at $224.77.