Berenberg Bank Trims ITV (ITV) Target Price to GBX 140

ITV (LON:ITV) had its price objective reduced by Berenberg Bank from GBX 150 ($1.96) to GBX 140 ($1.83) in a research note issued on Friday, May 10th, ThisIsMoney.Co.Uk reports. The brokerage currently has a “hold” rating on the broadcaster’s stock. Berenberg Bank’s price objective points to a potential upside of 33.14% from the company’s current price.

ITV has been the subject of a number of other reports. UBS Group reissued a “neutral” rating and issued a GBX 125 ($1.63) price target (down from GBX 130 ($1.70)) on shares of ITV in a research report on Thursday, May 9th. Deutsche Bank reduced their price target on shares of ITV from GBX 140 ($1.83) to GBX 130 ($1.70) and set a “hold” rating for the company in a research report on Thursday, May 9th. Barclays reissued an “equal weight” rating and issued a GBX 135 ($1.76) price target on shares of ITV in a research report on Thursday, April 4th. Numis Securities reissued an “add” rating and issued a GBX 150 ($1.96) price target on shares of ITV in a research report on Wednesday, May 8th. Finally, Liberum Capital reissued a “buy” rating and issued a GBX 190 ($2.48) price target (down from GBX 240 ($3.14)) on shares of ITV in a research report on Wednesday, March 27th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of GBX 147 ($1.92).

Shares of LON:ITV traded down GBX 2.10 ($0.03) during trading on Friday, hitting GBX 105.15 ($1.37). The company’s stock had a trading volume of 17,313,953 shares, compared to its average volume of 19,490,000. The company has a market cap of $4.20 billion and a price-to-earnings ratio of 9.06. ITV has a fifty-two week low of GBX 105.47 ($1.38) and a fifty-two week high of GBX 183.05 ($2.39). The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 123.32.

In other news, insider Mary Harris purchased 2,649 shares of the company’s stock in a transaction dated Friday, March 29th. The shares were acquired at an average cost of GBX 127 ($1.66) per share, for a total transaction of £3,364.23 ($4,395.96). Also, insider Carolyn McCall purchased 44,589 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average price of GBX 111 ($1.45) per share, for a total transaction of £49,493.79 ($64,672.40).

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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Analyst Recommendations for ITV (LON:ITV)

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