S&P Capital IQ Reiterates its BUY Rating on ITT

October 29 00:00 2011

New York, October 29(RainbowNewsLine.com) – Analyst Efraim Levy of S&P Capital reiterates his BUY rating on the shares of ITT (NYSE: ITT).

Analyst Efraim Levy, in a research note published yesterday mentions that the company has reported its Q3 EPS short of the estimates. The revenues, however, were ahead of the estimates driven by significant contribution from the company’s defense segment, the analyst says. The company is planning to spin off its ITT Exelis and Xylem operations on October 31. ITT’s technology, diversified product, regional representation and strong balance sheet are some of the positive drivers to help it grow as an independent company, the analyst says. Launch of new products and expansion in key emerging markets will also help the company to expand its sales and growth, the analyst adds.