ITV (ITV) Cut to “Equal weight” at Morgan Stanley

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ITV (LON:ITV) was downgraded by research analysts at Morgan Stanley to an “equal weight” rating in a research note issued on Friday. They presently have a GBX 210 ($2.71) price objective on the broadcaster’s stock, down from their prior price objective of GBX 230 ($2.97). Morgan Stanley’s price target would suggest a potential upside of 29.59% from the stock’s previous close.

ITV has been the subject of a number of other research reports. Goldman Sachs Group lowered shares of ITV to a “neutral” rating and upped their price objective for the company from GBX 189 ($2.44) to GBX 194 ($2.50) in a research report on Thursday, July 12th. Liberum Capital reaffirmed a “buy” rating on shares of ITV in a research report on Monday, August 6th. Barclays upped their price objective on shares of ITV from GBX 175 ($2.26) to GBX 185 ($2.39) and gave the company an “equal weight” rating in a research report on Thursday, July 26th. Citigroup reaffirmed a “buy” rating on shares of ITV in a research report on Thursday, July 26th. Finally, UBS Group reaffirmed a “neutral” rating on shares of ITV in a research report on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of GBX 189.80 ($2.45).

ITV stock opened at GBX 162.05 ($2.09) on Friday. ITV has a 52-week low of GBX 142.80 ($1.84) and a 52-week high of GBX 221.76 ($2.86).

ITV (LON:ITV) last released its quarterly earnings results on Wednesday, July 25th. The broadcaster reported GBX 7.10 ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of GBX 6.80 ($0.09) by GBX 0.30 ($0.00). ITV had a net margin of 12.37% and a return on equity of 73.04%.

ITV Company Profile

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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