RBC Capital Markets analyst Ashish Sabadra initiated coverage on Intercontinental Exchange Inc. (ICE) with an Outperform rating and a price target of $200, citing strong growth prospects driven by its diversified business model, strategic positioning within key financial markets, and technological capabilities in mortgage and data services. The analyst expects ICE to benefit from double-digit growth in mortgage technology, driven by synergies from the BKI acquisition and a recovering market, as well as from digitization in ICE Bonds and the shift to passive fixed-income investing in ICE Indices.
