KeyBanc Reiterates a 'Buy' on ITT Corp. (ITT); Recent Underperformance Warrants Action
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Price: $219.50 +0.05%
Rating Summary:
16 Buy, 9 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
16 Buy, 9 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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KeyBanc reiterates a 'Buy' on ITT Corp. (NYSE: ITT) price target of $26.00.
Analyst, Matt J. Summerville, said, "Following this due diligence, we believe our estimates and overall outlook for the Company are well intact, the balance sheet remains firm, legacy liabilities well manageable and the shares essentially the most inexpensive within our coverage universe on an EV/EBITDA basis (even treating asbestos, pension and environmental liabilities as debt)."
Summerville recently lowered estimates of ITT, but said with the recent underperformance of the stock, plus the increase in short interest, he is maintaining Q2 EPS at $0.35, and FY12 at $1.63.
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 $18.07 yesterday.
Analyst, Matt J. Summerville, said, "Following this due diligence, we believe our estimates and overall outlook for the Company are well intact, the balance sheet remains firm, legacy liabilities well manageable and the shares essentially the most inexpensive within our coverage universe on an EV/EBITDA basis (even treating asbestos, pension and environmental liabilities as debt)."
Summerville recently lowered estimates of ITT, but said with the recent underperformance of the stock, plus the increase in short interest, he is maintaining Q2 EPS at $0.35, and FY12 at $1.63.
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 $18.07 yesterday.
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