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.