The Intercontinental Exchange is a "formidable business," said Hannah Gooch-Peters of asset management firm Sanlam Investments UK. It's a stock with consistent earnings growth, recurring revenue and high barriers to entry, the global equity investment analyst told CNBC Pro Talks on Wednesday. ICE operates exchanges globally, provides data analytics services and mortgage technology. It owns exchanges such as the New York Stock Exchange.
"We think the runway for growth, particularly on that mortgage technology side is really exciting. But it's also very well balanced by this data analytics and by the exchange side of the business as well," Gooch-Peters said. She added that ICE has built an "amazing, diversified business," which helps earnings growth be consistent even if one part of the business isn't performing.