ITV plc (ITV) Stock Rating Lowered by Macquarie
ITV plc (LON:ITV) was downgraded by research analysts at Macquarie to an “underperform” rating in a report issued on Wednesday, MarketBeat reports. They currently have a GBX 110 ($1.42) target price on the broadcaster’s stock, down from their prior target price of GBX 200 ($2.58). Macquarie’s target price indicates a potential downside of 30.47% from the company’s previous close.
A number of other research analysts also recently weighed in on the stock. Credit Suisse Group restated an “outperform” rating on shares of ITV plc in a research report on Friday, July 21st. Morgan Stanley upgraded shares of ITV plc to an “overweight” rating and set a GBX 230 ($2.97) price objective on the stock in a research report on Friday, June 23rd. Jefferies Group LLC restated a “buy” rating on shares of ITV plc in a research report on Wednesday, July 19th. Liberum Capital restated a “buy” rating and set a GBX 320 ($4.13) price objective on shares of ITV plc in a research report on Thursday, August 31st. Finally, Deutsche Bank AG restated a “hold” rating and set a GBX 180 ($2.32) price objective on shares of ITV plc in a research report on Monday, June 19th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of GBX 207.43 ($2.68).
ITV plc (LON ITV) traded up 1.41% during midday trading on Wednesday, hitting GBX 158.20. 26,461,702 shares of the company were exchanged. The stock has a 50 day moving average of GBX 165.40 and a 200-day moving average of GBX 189.10. ITV plc has a 1-year low of GBX 152.40 and a 1-year high of GBX 221.76. The stock’s market capitalization is GBX 6.34 billion.
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In related news, insider Peter Bazalgette bought 11,968 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was bought at an average cost of GBX 182 ($2.35) per share, with a total value of £21,781.76 ($28,130.91).
ITV plc Company Profile
ITV plc (ITV) is an integrated producer broadcaster. The Company creates, owns and distributes content on multiple platforms. It operates through two segments: Broadcast & Online and ITV Studios. The Broadcast & Online segment operates the commercial family of channels in the United Kingdom and delivers content through television broadcasting.
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