** BofA Global Research cuts PT on NYSE parent Intercontinental Exchange ICE.N to $230 from $237
** Cites headwinds from delisting of issuers and downward revisions of mortgage volumes
** "We estimate that 4% of ICE's issuer base was delisted in 2024, which will hit revenues beginning in 1Q25," says brokerage
** "We also note that the Mortgage Bankers Association revised down their 1Q25 mortgage volume estimate by 5% over the past two months, which prompted a proportionate downward revision to ICE's transactional mortgage revenue" - BofA
** Fifteen of 18 brokerages rate stock "buy" or higher, and 3 "hold"; median PT is $190 - data compiled by LSEG
** Including session moves, ICE stock up 15% YTD compared to a 4.2% decline in the S&P 500 .SPX
(Reporting by Ateev Bhandari in Bengaluru)
((Ateev.Bhandari@thomsonreuters.com; ))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.