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Wedbush Downgrades Investment Technology Group (ITG) to Neutral; No Remedy for Lackluster Volumes

June 9, 2011 7:32 AM EDT Send to a Friend
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Price: $20.14 -0.2%

Rating Summary:
    1 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 10 | New: 20
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Wedbush downgraded Investment Technology Group (NYSE: ITG) from Outperform to Neutral. PT cut from $20 to $15.

Wedbush analyst says, "We believe that ITG is well positioned to benefit from a return of cash equity trading volumes to growth. Nevertheless, we believe volumes are likely to remain muted through 2011, resulting in further downward consensus revisions...Reducing our 2011 EPS estimate to $0.88 from $1.00 given our lowered expectations. Also reducing our 2012 EPS estimate to $1.14 from $1.25."

For more ratings news on Investment Technology Group click here and for the rating history of Investment Technology Group click here.

Shares of Investment Technology Group closed at $13.81 yesterday.

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