Keefe, Bruyette & Woods Upgrades Investment Technology Group (ITG) to Market Perform; Downside Limited at Current Levels

Keefe, Bruyette & Woods upgraded Investment Technology Group (NYSE: ITG) from Underperform to Market Perform. PT $15.

KBW analyst says, "At 3.1X EV-to-EBITDA and P/BV of 0.6X and with the stock down over 30% since the end of February, we see limited further downside, though we do not expect a turn in earnings power yet. We lower 2Q11, 2011 and 2012 EPS estimates to $0.18, $0.80, and $1.22 from $0.21, $0.89 and $1.26 and maintain our $15 price target."

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 $13.53 yesterday.

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