UBS Turns Bullish On ITT, Sees Attractive Entry Point

Diversified industrial conglomerate ITT Inc ITT has been upgraded to Buy from Neutral by UBS analyst Damian Karas.
The analyst lowered the price target to $95 (an upside of 31%) from $107.
According to the analyst, the stock's 22% decline year-to-date offers an attractive entry point.
Karas states that ITT presents a strong management team, balance sheet, and growth outlook driven by deferred auto production and a long cycle recovery in commercial aerospace.
Karas thinks negative sentiment around current supply chain challenges is masking the 29% earnings opportunity at the company.
Recently, Goldman Sachs lowered its price target to $94 (an upside of 29%) from $109 while maintaining the Buy rating for the shares.
Price Action: ITT shares traded higher by 1.65% at $72.70 on the last check Friday.

Momentum64.73

Growth55.18

Quality84.75

Value47.07

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Medium

Long

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