ITC Holdings (ITC) : Analyst Rating Update

ITC Holdings (ITC) : The consensus on ITC Holdings (ITC) based on 7 analyst recommendation on the company stock is 2.71, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 4 which endorses a Sell on the stock. However, 1 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 6 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

ITC Holdings (ITC) : 4 Wall Street analysts covering ITC Holdings (ITC) believe that the average level the stock could reach for the short term is $41. The maximum price target given is $45 and the minimum target for short term is around $37, hence the standard deviation is calculated at $4.62.

ITC Holdings (NYSE:ITC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $46.85 and $46.72 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $47.46. The buying momentum continued till the end and the stock did not give up its gains. It closed at $47.22, notching a gain of 0.53% for the day. The total traded volume was 2,317,175 . The stock had closed at $46.97 on the previous day.

The company shares have rallied 41.05% from its 1 Year high price. On Jul 5, 2016, the shares registered one year high at $47.31 and the one year low was seen on Nov 6, 2015. The 50-Day Moving Average price is $45.27 and the 200 Day Moving Average price is recorded at $42.39.

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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