ITC Holdings downgraded to Neutral from Overweight at JPMorgan JPMorgan downgraded ITC Holdings to Neutral citing valuation and a lack of development plan visibility. The firm raised its price target for shares to $37 from $36.
ITC Holdings targets $4.5B of capital investments for 2014-2018 Sees operating EPS CAGR of 11%-13% for 2014-2018. Sees dividend growth of 10%-15% per annum. Information provided in company slides presentation.