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ITC Holdings (ITC) Price Target Lifted To $80 By Deutsche Bank, 'Buy' Reiterated

 February 23, 2012 04:40 PM
 


Deutsche Bank (DB) raised its price target on shares of ITC Holdings Corp. (NYSE:ITC) to $80 from $79, while reiterating its "Buy" rating.

DB noted that ITC introduced a new five-year capital plan through 2016 on Tuesday night with their Q4 release. The plan calls for capital investment over five years of $4.2 billion as compared to $3.9 billion previously and supports long-term EPS growth of 15-17% through 2016.

"We continue to see much better relative upside in ITC vs. most other regulated electric utilities," DB wrote in a note.

ITC is trading down 0.01% at $75.60 on Thursday.

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