Analyst Rating Update on ITC Holdings (ITC)

ITC Holdings (ITC) : Zacks Investment Research ranks ITC Holdings (ITC) as 2, which is a Buy recommendation. 1 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 6 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 7 research analysts is 2.71, which indicates as a Hold.

ITC Holdings (ITC) has been rated by 4 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $47 and the lowest price target forecast is $37. The average forecast of all the analysts is $41.5 and the expected standard deviation is $5.26.

Company shares have received an average consensus rating of Hold for the current week


ITC Holdings (NYSE:ITC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $45.99 and $45.66 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $46.44. The buying momentum continued till the end and the stock did not give up its gains. It closed at $46.26, notching a gain of 0.63% for the day. The total traded volume was 848,253 . The stock had closed at $45.97 on the previous day.

ITC Holdings Corp. is an independent electricity transmission company in the United States. The Company operates, maintains and invests in transmission infrastructure. The Companys customers include investor-owned utilities, municipalities, cooperatives, power marketers and alternative energy suppliers. Its regional infrastructure includes four North Central Multi-Value Projects (MVPs) and the Thumb Loop Project. The Companys subsidiaries operations include asset planning; engineering, design and construction; maintenance, and real time operations. The Asset Planning group uses system models and load forecasts to develop its system expansion capital plans. The Engineering, Design and Construction group is engaged in the design, equipment specifications, maintenance plans and project engineering for capital, operation and maintenance work. The Company develops and tracks preventive maintenance plans. Its real time operations include system and local balancing authoring operations.

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