Berenberg Bank Lowers ITV (LON:ITV) Price Target to GBX 56

ITV (LON:ITVGet Rating) had its price objective lowered by equities researchers at Berenberg Bank from GBX 66 ($0.81) to GBX 56 ($0.69) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has a “sell” rating on the broadcaster’s stock. Berenberg Bank’s price target suggests a potential downside of 23.03% from the company’s previous close.

Several other research analysts also recently commented on the stock. Barclays dropped their price objective on shares of ITV from GBX 95 ($1.16) to GBX 85 ($1.04) and set an “equal weight” rating for the company in a report on Thursday, May 12th. JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 170 ($2.08) price objective on shares of ITV in a report on Monday, June 20th. Morgan Stanley reissued an “equal weight” rating on shares of ITV in a report on Tuesday, April 26th. Finally, Shore Capital reissued a “buy” rating on shares of ITV in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of GBX 112.33 ($1.38).

ITV Trading Up 2.8 %

Shares of ITV stock opened at GBX 72.76 ($0.89) on Wednesday. ITV has a 52-week low of GBX 62.04 ($0.76) and a 52-week high of GBX 127.19 ($1.56). The company has a debt-to-equity ratio of 66.07, a quick ratio of 0.83 and a current ratio of 1.34. The firm has a market capitalization of £2.93 billion and a PE ratio of 606.33. The stock has a fifty day simple moving average of GBX 68.69 and a two-hundred day simple moving average of GBX 82.50.

Insider Activity at ITV

In other news, insider Andrew Cosslett acquired 301,889 shares of ITV stock in a transaction that occurred on Tuesday, June 28th. The shares were bought at an average cost of GBX 69 ($0.85) per share, with a total value of £208,303.41 ($255,242.51). In related news, insider Mary Harris acquired 3,943 shares of the company’s stock in a transaction dated Thursday, June 30th. The shares were purchased at an average cost of GBX 66 ($0.81) per share, with a total value of £2,602.38 ($3,188.80). Also, insider Andrew Cosslett purchased 301,889 shares of the stock in a transaction on Tuesday, June 28th. The stock was acquired at an average cost of GBX 69 ($0.85) per share, for a total transaction of £208,303.41 ($255,242.51).

ITV Company Profile

(Get Rating)

ITV plc, an integrated producer broadcaster, creates, owns, and distributes content on various platforms worldwide. It operates through Media & Entertainment, and ITV Studios segments. The Media & Entertainment 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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