Credit Suisse Group Upgrades ITV (LON:ITV) to “Outperform”

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ITV (LON:ITV) was upgraded by investment analysts at Credit Suisse Group to an “outperform” rating in a research note issued to investors on Tuesday, January 29th. The firm currently has a GBX 170 ($2.22) price objective on the broadcaster’s stock, down from their previous price objective of GBX 205 ($2.68). Credit Suisse Group’s target price points to a potential upside of 25.97% from the stock’s previous close.

A number of other brokerages also recently commented on ITV. Liberum Capital restated a “buy” rating on shares of ITV in a research report on Friday, January 18th. Barclays restated an “equal weight” rating and issued a GBX 170 ($2.22) price objective (down previously from GBX 180 ($2.35)) on shares of ITV in a research report on Thursday, November 8th. UBS Group reiterated a “neutral” rating and set a GBX 160 ($2.09) price target (down from GBX 165 ($2.16)) on shares of ITV in a research report on Thursday, October 18th. Shore Capital reiterated a “buy” rating on shares of ITV in a research report on Wednesday, November 7th. Finally, Societe Generale reiterated a “hold” rating and set a GBX 138 ($1.80) price target on shares of ITV in a research report on Friday, January 25th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. ITV has an average rating of “Hold” and a consensus target price of GBX 182.86 ($2.39).

Shares of LON ITV traded up GBX 2.65 ($0.03) during mid-day trading on Tuesday, hitting GBX 134.95 ($1.76). The company had a trading volume of 7,465,041 shares, compared to its average volume of 19,490,000. ITV has a 1-year low of GBX 142.80 ($1.87) and a 1-year high of GBX 221.76 ($2.90).

In other news, insider Carolyn McCall sold 75,391 shares of the firm’s stock in a transaction that occurred on Monday, December 17th. The shares were sold at an average price of GBX 130 ($1.70), for a total transaction of £98,008.30 ($128,065.20).

About ITV

ITV plc, an integrated producer broadcaster, creates, owns, and distributes content on various platforms worldwide. It operates through Broadcast & Online, and ITV Studios segments. The Broadcast & Online segment broadcasts various contents on its family of free-to-air channels, including ITV, ITV2, ITV3, ITV4, ITVBe, ITV Encore, CITV, ITV Breakfast, CITV Breakfast, and various related +1 and HD equivalents; and offers television advertising services.

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Analyst Recommendations for ITV (LON:ITV)

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