German construction sector still in recession, civil engineering only bright spot
Investing.com - KeyBanc Capital Markets raised its price target on ITT Corp. (NYSE:ITT) to $200.00 from $192.00 on Friday, while maintaining an Overweight rating on the industrial manufacturer’s stock. The new target represents potential upside from the current price of $178.47, though InvestingPro analysis suggests the stock is trading above its Fair Value.
The price target increase follows KeyBanc’s visit to ITT’s Friction Technologies manufacturing plant in Barge, Italy, which the firm described as "world-class" in its research note.
KeyBanc was hosted by several ITT executives during the visit, including Davide Barbon, President of Motion Technologies & Asia-Pacific, and Luca Martinotto, General Manager of Friction Technologies.
The investment firm indicated that the site visit reinforced its confidence in the growth trajectory of ITT’s Friction Technologies business unit and its potential to improve profitability levels.
ITT Corp. manufactures engineered components and customized technology solutions for the transportation, industrial, and energy markets, with Friction Technologies representing a key segment of its business portfolio. The company has maintained dividend payments for 55 consecutive years, with a current yield of 0.79%. Seven analysts have recently revised their earnings estimates upward, reflecting growing confidence in ITT’s outlook.
In other recent news, ITT Inc. reported its second-quarter 2025 earnings, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $1.64, exceeding the forecasted $1.61. Revenue also outperformed projections, reaching $972.4 million compared to the anticipated $948.2 million. These developments highlight ITT’s strong financial performance in the recent quarter. Analysts had expected lower figures, making the results noteworthy for investors. The earnings and revenue results are crucial as they indicate the company’s current financial health. Additionally, the positive earnings report may influence future analyst ratings and investor decisions. These recent developments underscore ITT’s ability to exceed market expectations.
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