Cowen Updates Its Model Following ITT Corp. (ITT) 3Q Results; Cuts Price Target to $50

Cowen maintained an Outperform rating on ITT Corp. (NYSE: ITT), and cut the price target to $50.00 (from $52.00), following the release of the company's 3Q earnings.

Analyst Joseph Giordano commented, "Updating model post 3Q15 results. Maintain Outperform rating in a challenging industrial environment. Slight PT reduction to $50 from $52 to account for more conservative near-term market assumptions."

For an analyst ratings summary and ratings history on ITT Corp. click here. For more ratings news on ITT Corp. click here.

Shares of ITT Corp. closed at $39.58 yesterday.

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