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UPDATE: Stifel Initiates Coverage on ITT on Multiple Growth/Margin Drivers


In a report published Wednesday, Stifel analyst Nathan Jones initiated coverage on ITT Corporation (NYSE: ITT) with a Buy rating and $47.00 price target.

In the report, Stifel noted, “We are initiating coverage of ITT Corporation (ITT) with a Buy rating on the shares. ITT is a leading global diversified manufacturing company with businesses in automotive, chemical, energy, aerospace, industrial, and mining markets. Although ITT operates in cyclical end markets, the company has a good mix of early, mid, and late cycle end markets along with significant aftermarkets which helps to dampen cyclicality. Despite capital spending delays in 2012-2013 ITT has grown revenues above 5% organically during the period and we expect that to continue and potentially accelerate with large project releases and geographical expansion. We forecast an organic revenue CAGR of 5.8% over the next three years.”

ITT closed on Tuesday at $40.59.

Latest Ratings for ITT

Nov 2020KeyBancMaintainsOverweight
Oct 2020KeyBancMaintainsOverweight
May 2020UBSMaintainsBuy

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