Equities researchers at UBS AG increased their price target on shares of ITC Holdings Corp. (NYSE:ITC) from $101.00 to $114.00 in a research report issued on Tuesday, American Banking News reports. The firm currently has a “buy” rating on the stock. UBS AG’s price target indicates a potential upside of 8.62% from the stock’s previous close.
Shares of ITC Holdings Corp. (NYSE:ITC) traded up 2.35% on Tuesday, hitting $104.95. 612,883 shares of the company’s stock traded hands. ITC Holdings Corp. has a one year low of $74.28 and a one year high of $102.97. The stock has a 50-day moving average of $95.72 and a 200-day moving average of $91.44. The company has a market cap of $5.527 billion and a price-to-earnings ratio of 26.40.
ITC Holdings Corp. (NYSE:ITC) last announced its earnings results on Thursday, October 31st. The company reported $1.26 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.27 by $0.01. The company had revenue of $238.80 million for the quarter, compared to the consensus estimate of $245.82 million. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Analysts expect that ITC Holdings Corp. will post $4.88 EPS for the current fiscal year.
ITC has been the subject of a number of other recent research reports. Analysts at ISI Group raised their price target on shares of ITC Holdings Corp. from $100.00 to $112.00 in a research note to investors on Tuesday. Separately, analysts at Deutsche Bank raised their price target on shares of ITC Holdings Corp. from $93.00 to $95.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of ITC Holdings Corp. in a research note to investors on Monday, October 7th. They set an “overweight” rating and a $105.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. ITC Holdings Corp. has an average rating of “Buy” and a consensus target price of $106.83.
ITC Holdings Corp. (NYSE:ITC) is engaged in the electric transmission operations of its Regulated Operating Subsidiaries.
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