ITV plc (ITV) Earns “Buy” Rating from Liberum Capital
ITV plc (LON:ITV)‘s stock had its “buy” rating reissued by analysts at Liberum Capital in a report issued on Wednesday. They currently have a GBX 360 ($4.70) price target on the broadcaster’s stock. Liberum Capital’s price target suggests a potential upside of 105.60% from the company’s current price.
Several other equities analysts have also issued reports on the company. Barclays PLC cut their target price on ITV plc from GBX 200 ($2.61) to GBX 190 ($2.48) and set an “equal weight” rating on the stock in a research note on Monday, October 3rd. BNP Paribas reiterated a “neutral” rating and issued a GBX 200 ($2.61) target price on shares of ITV plc in a research note on Wednesday, September 28th. Credit Suisse Group AG lifted their target price on ITV plc from GBX 200 ($2.61) to GBX 240 ($3.13) and gave the company an “outperform” rating in a research note on Wednesday, September 14th. Morgan Stanley reiterated an “equal weight” rating and issued a GBX 240 ($3.13) target price on shares of ITV plc in a research note on Thursday, September 1st. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a GBX 200 ($2.61) target price on shares of ITV plc in a research note on Friday, August 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of GBX 249.42 ($3.26).
ITV plc (LON:ITV) traded down 4.84% during midday trading on Wednesday, hitting GBX 175.10. 37,762,775 shares of the stock traded hands. The company has a 50-day moving average of GBX 195.01 and a 200-day moving average of GBX 206.32. ITV plc has a 12 month low of GBX 141.00 and a 12 month high of GBX 279.10. The stock’s market cap is GBX 7.02 billion.
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The business also recently announced a dividend, which will be paid on Monday, November 28th. Shareholders of record on Thursday, October 27th will be issued a GBX 2.40 ($0.03) dividend. This represents a yield of 1.22%. The ex-dividend date is Thursday, October 27th.
In related news, insider Peter Bazalgette bought 11,875 shares of the company’s stock in a transaction on Friday, September 30th. The stock was bought at an average cost of GBX 183 ($2.39) per share, for a total transaction of £21,731.25 ($28,366.07). Also, insider Crozier,Adam sold 500,000 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of GBX 200 ($2.61), for a total value of £1,000,000 ($1,305,312.62).
About ITV plc
ITV plc (ITV) is a United Kingdom-based integrated producer broadcaster. The Company creates, owns and distributes content on multiple platforms. The Company operates through segments: Broadcast & Online and ITV Studios. The Company’s Broadcast & Online operates the commercial family of channels in the United Kingdom and delivers content through traditional television broadcasting.
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