Barclays Maintains an 'Equalweight' on ITT Corp. (ITT); Compelling, but Still Off Investors' Radar

Barclays maintains an 'Equalweight' on ITT Corp. (NYSE: ITT) price target of $24.00.

Analyst, Scott R. Davis, said, "The post-spin ITT has been in its existing form for ~8 months and...it's truly off most investors' radar screen and has yet to broadly communicate a compelling story." (Recent pullback in shares is intriguing)

"Investors have largely chosen to own ITT's former sibling, Xylem (NYSE: XYL) considered a higher quality asset due to its water infrastructure exposures. However, ITT has some very interesting niche businesses and with just $2.2 B in revenues and market cap of just $1.6 B, small bolt-on deals and share repurchases can have an outsized impact."

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 $17.60 yesterday.

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