ITC Holdings Corp. Now Covered by Morgan Stanley (ITC)
Equities research analysts at Morgan Stanley started coverage on shares of ITC Holdings Corp. (NYSE:ITC) in a research note issued to investors on Monday, Analyst Ratings Network reports. The firm set an “overweight” rating and a $105.00 price target on the stock. Morgan Stanley’s price target would suggest a potential upside of 12.75% from the company’s current price.
The analysts wrote, “ITC shares trade in-line with peers, but warrant a large premium as we forecast 5-year EPS growth to be 2-3x that of peers. We also expect concerns over lower ROEs to subside as rates rise and expect investors to favor its superior returns, supportive regulatory framework, and high dividend growth.”
Several other analysts have also recently commented on the stock. Analysts at UBS AG cut their price target on shares of ITC Holdings Corp. from $102.00 to $101.00 in a research note to investors on Wednesday, September 4th. They now have a “buy” rating on the stock. Separately, analysts at Sterne Agee upgraded shares of ITC Holdings Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, August 15th. Finally, analysts at ISI Group upgraded shares of ITC Holdings Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, August 15th. They now have a $100.00 price target on the stock, up previously from $88.00. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. ITC Holdings Corp. currently has an average rating of “Buy” and an average price target of $102.33.
ITC Holdings Corp. (NYSE:ITC) traded up 0.96% on Monday, hitting $94.02. The stock had a trading volume of 48,284 shares. ITC Holdings Corp. has a 52 week low of $74.28 and a 52 week high of $99.33. The stock has a 50-day moving average of $90.13 and a 200-day moving average of $90.1. The company has a market cap of $4.878 billion and a price-to-earnings ratio of 24.84.
ITC Holdings Corp. (NYSE:ITC) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.20. The company had revenue of $229.82 million for the quarter, compared to the consensus estimate of $240.02 million. During the same quarter last year, the company posted $1.05 earnings per share. ITC Holdings Corp.’s revenue was up 16.4% compared to the same quarter last year.
ITC Holdings Corp. (NYSE:ITC) is engaged in the electric transmission operations of its Regulated Operating Subsidiaries.
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