Wunderlich Securities Sees Positive Dividend And Management Announcements For ITC

In a report published Thursday, Wunderlich Securities analyst Mike Bates reiterated a Buy rating and $41.00 price target on

. In the report, Wunderlich Securities noted, “ITC Holdings (ITC) yesterday announced a number of positive data points which support our positive long-term outlook, including the rounding out of its senior management team with the appointment of as permanent CFO and Treasurer. The utility also declared a 14% dividend increase for 3Q14, ahead of our/consensus projections of 10%/12%. ITC continues to sport a compelling risk/reward profile and remains our top idea in the utility sector, due to its strong growth prospects, constructive regulatory backdrop, and attractive valuation relative to peers.” ITC closed on Wednesday at $36.13.