ITV (LON:ITV) Shares Up 15% - What's Next?

Key Points

• Shares jumped 15% intraday to a high of GBX 81.35 (last at GBX 77.88) on unusually heavy volume of ~47.38M shares, +152% versus the average daily volume.
• Analyst view: JPMorgan cut its price target to GBX 105 from GBX 112 but kept an "overweight" rating, and MarketBeat shows a consensus rating of "Buy" with an average target of GBX 105.
• Key fundamentals/technicals: market cap ~£2.91bn, P/E 15.9, 50-day MA GBX 76.50 vs 200-day MA GBX 79.09, and a debt-to-equity ratio of 46.0.

ITV plc (LON:ITV - Get Free Report)'s stock price rose 15% during mid-day trading on Saturday . The stock traded as high as GBX 81.35 and last traded at GBX 77.88. Approximately 47,380,695 shares traded hands during trading, an increase of 152% from the average daily volume of 18,833,127 shares. The stock had previously closed at GBX 67.70.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their price target on ITV from GBX 112 to GBX 105 and set an "overweight" rating on the stock in a research report on Friday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of GBX 105.

ITV Stock Up 15.0%

The business's 50 day moving average price is GBX 76.50 and its 200-day moving average price is GBX 79.09. The company has a debt-to-equity ratio of 46.00, a current ratio of 1.56 and a quick ratio of 0.83. The company has a market cap of £2.91 billion, a P/E ratio of 15.89, a PEG ratio of -0.53 and a beta of 1.44.

ITV Company Profile

ITV is a vertically integrated producer broadcaster and streamer, consisting of ITV Studios and Media & Entertainment. ITV Studios is a scaled and global creator, owner and distributor of high-quality TV content. It operates in 12 countries, across 60+ labels and has a global distribution network.

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