UPDATE: Deutsche Bank Ups ITT Corporation's PT to $31 Following Solid Q4 Results, 2013 Guidance

A Thursday report published by Deutsche Bank reiterated a Buy rating on ITT Corporation

and raised its price target from $27 to $31. Deutsche Bank said, "Robust 2013 guidance and favorable commentary around revenue and operational opportunities following ITT's 4Q12 earnings reinforce our confidence toward the company's outlook beyond 2013. In turn, we are rolling forward our valuation framework to 2014 and raising our price target to $31. Our EPS estimates for 2013 and 2014 remain unchanged." ITT closed on Wednesday at $25.79.