J.P. Morgan reports that while it does not expect material changes to the annual guidance of electric utilities (which it says are typically hesitant to change guidance in the first quarter), there could be one exception: the Overweight-rated ITC Holdings Corp. ITC.
“In our view [ITC] may be in a position to update its capex plan and therefore its EPS outlook as a result of additional clarity on regional transmission projects that have taken place since the company introduced its capital spending plan in September of last year,” J.P. Morgan writes.
ITC Holdings closed Monday at $69.66.
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