Intercontinental Exchange rises after BofA hikes prices target

Intercontinental Exchange's ICE.N shares up 2.5% at $40.67 on Wednesday after BofA Global Research analysts hiked PT on the securities exchange operator

ICE is on track for a fifth straight session of gains

"ICE has now posted three consecutive years of 15%+ energy volume growth, and high-growth energy transition products now comprise over half of its energy segment. While there has likely been some temporary tailwind related to the recent wars in Ukraine/Gaza/Iran, we now believe that ICE can grow energy volumes (in low double digits%) over the medium term," BofA analysts led by Craig Siegenthaler said in an investor note

BofA raised their PT on ICE to $234 from $223

Among 17 analysts covering ICE, avg rating is "buy" and median PT is $191.50 -LSEG data

ICE is up 5.9% YTD vs Nasdaq Composite Index's .IXIC 0.4% increase