FBR Capital Maintains a 'Market Perform' on ITT Corp (ITT); Sticker Shock from Breakup Price Tag
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Price: $219.40 +1.25%
Rating Summary:
16 Buy, 9 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 9 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains a 'Market Perform' on ITT Corp. (NYSE: ITT), lowers PT from $61 to $57.
FBR analyst says, "We suspect new investors may choose to remain on the sidelines and evaluate the opportunity after more details on ITT’s split into three companies (historical financials, form 10, etc.) become available later this year. Our sum-of-the-parts analysis suggests valuation in the $55–$60 range with potential downside from any further increases in breakup-related costs."
For more ratings news on ITT Corp. click here and for the rating history of ITT Corp. click here.
Shares of ITT Corp. closed at $58.88 yesterday.
FBR analyst says, "We suspect new investors may choose to remain on the sidelines and evaluate the opportunity after more details on ITT’s split into three companies (historical financials, form 10, etc.) become available later this year. Our sum-of-the-parts analysis suggests valuation in the $55–$60 range with potential downside from any further increases in breakup-related costs."
For more ratings news on ITT Corp. click here and for the rating history of ITT Corp. click here.
Shares of ITT Corp. closed at $58.88 yesterday.
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