IntercontinentalExchange price target lowered to $163 from $187 at Morgan Stanley

Morgan Stanley lowered the firm's price target on IntercontinentalExchange to $163 from $187 and keeps an Equal Weight rating on the shares. Brokers & Exchanges are expected to deliver slightly better-than-consensus Q2 earnings driven by stronger volumes and volatility, with brokers favored for attractive valuations, growth potential, and multiple upcoming catalysts, the analyst tells investors in a research note.