KeyBanc Upgrades ITT Corp. (ITT) to Overweight

November 7, 2016 7:36 AM EST
Get Alerts ITT Hot Sheet
Price: $42.73 +1.40%

Rating Summary:
    12 Buy, 9 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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KeyBanc upgraded ITT Corp. (NYSE: ITT) from Sector Weight to Overweight with a price target of $40. Analyst Jeffrey D. Hammond sees valuation as compelling.

"In short, we view ITT earnings trajectory as fully de-risked following the Company's 3Q16 earnings and updated outlook and view valuation as compelling at current levels. In our view, ITT shares do not reflect the true valuation of its best-in-class Motion Technologies and does not bake in any meaningful recovery in its Industrial Process business, which appears to be at trough levels," said Hammond.

For an analyst ratings summary and ratings history on ITT Corp. click here. For more ratings news on ITT Corp. click here.

Shares of ITT Corp. closed at $33.26 yesterday.



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