BUZZ-Barclays starts ITT at 'equal-weight' on steady growth outlook
Reuters03-09
BUZZ-Barclays starts ITT at 'equal-weight' on steady growth outlook
** Barclays initiates coverage on industrial parts supplier ITT ITT.N with "equal-weight", price target at $220
** PT implies an 18.5% upside from the stock's last close
** Barclays says co set to deliver mid-single-digit organic sales growth in the coming years, broadly in line with the steady pace it has maintained recently
** Adds that ITT kept its margins growing in line with peers by improving performance across its businesses
** Brokerage notes further earnings boost from the FLOW deal is still to come
** Nine of 14 brokerages rate the stock "buy" or higher, five "hold"; their median PT is $229 - data compiled by LSEG
** As of last close, stock had risen about 7% YTD
(Reporting by Apratim Sarkar in Bengaluru)
((Apratim.Sarkar@thomsonreuters.com))
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