TD Cowen analyst Joseph C Giordano maintained a Buy rating on ITT yesterday and set a price target of $190.00.
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Joseph C Giordano has given his Buy rating due to a combination of factors that highlight ITT’s strong position and future potential. The company’s organic business drivers remain robust, supported by their engineering and operational expertise, while their end markets continue to show resilience. Additionally, ITT’s record backlog provides increased visibility into future performance, and the company is beginning to leverage its M&A capabilities, which could serve as a catalyst for growth.
Furthermore, the Industrial Process segment has stabilized, with expectations of volume growth driven by traditional sectors such as oil and gas, LNG, and mining. ITT’s leadership has a proven track record and operational expertise that could mitigate potential market slowdowns. The company’s stringent performance review process and acquisition philosophy are seen as significant sources of potential upside. Overall, the conservative guidance approach, combined with the potential for exceeding expectations, supports the Buy rating, with a price target set at $190.
According to TipRanks, C Giordano is a 5-star analyst with an average return of 11.3% and a 61.99% success rate. C Giordano covers the Industrials sector, focusing on stocks such as Emerson Electric Company, Watts Water Technologies, and Symbotic.
In another report released on September 16, Bank of America Securities also maintained a Buy rating on the stock with a $210.00 price target.