JPMorgan Chase & Co. Lowers ITV (LON:ITV) Price Target to GBX 82

Key Points

• JPMorgan lowered its price target for ITV from GBX 85 to GBX 82 while maintaining a “neutral” rating; the new target implies 15.49% upside from the previous close.
• Analyst sentiment remains cautious, with Deutsche Bank reiterating a “hold” rating at GBX 85 and MarketBeat reporting a consensus “Hold” rating and GBX 83.50 target price.
• ITV shares opened at GBX 71 and were down 0.9%, with the stock trading between a 12-month range of GBX 65.70 and GBX 87.35.

ITV (LON:ITV - Get Free Report) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from GBX 85 to GBX 82 in a research report issued to clients and investors on Friday,London Stock Exchange reports. The brokerage currently has a "neutral" rating on the broadcaster's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 15.49% from the stock's previous close.

Separately, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a GBX 85 target price on shares of ITV in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of GBX 83.50.

ITV Stock Down 0.9%

ITV stock opened at GBX 71 on Friday. The company has a market cap of £2.66 billion, a price-to-earnings ratio of 11.64, a PEG ratio of -0.53 and a beta of 0.81. The company has a current ratio of 1.18, a quick ratio of 0.83 and a debt-to-equity ratio of 52.95. ITV has a 12 month low of GBX 65.70 and a 12 month high of GBX 87.35. The firm has a 50-day moving average of GBX 76.94 and a two-hundred day moving average of GBX 79.03.

ITV (LON:ITV - Get Free Report) last issued its earnings results on Friday, July 31st. The broadcaster reported GBX 2.20 earnings per share for the quarter. ITV had a return on equity of 13.15% and a net margin of 6.57%. As a group, analysts forecast that ITV will post 1120 earnings per share for the current fiscal year.

ITV declared that its board has authorized a stock repurchase plan on Friday, July 31st that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the broadcaster to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

ITV Company Profile

ITV is a producer, streamer and broadcaster, consisting of ITV Studios and Media & Entertainment (M&E). ITV Studios is a scaled global creator, owner and distributor of high-quality TV content, producing some of the most successful shows in the world. It operates in 13 countries, across 60+ labels and is diversified by genre, geography and customer in the key creative markets around the world. Media & Entertainment is the largest commercial streamer and broadcaster. Through M&E, we make brilliant British-focused content available on ITVX - our free, advertiser-funded streaming service - alongside our free-to-air linear TV channels.

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