Sell: ITC Holdings (ITC)
from Cabot Benjamin Graham Value Investor
Updated from Investment Digest 758, June 18, 2014
ITC Holdings (ITC) missed earnings estimates for four straight quarters, and the trend could continue. ITC is likely to lose a transmission rate complaint, and the outcome could include refunding previously collected revenues. More rate cases could follow. ITC was sold on July 23 at 33.28 and lost 4.29% since its initial buy recommendation at 34.77 on March 10, 2014. SELL.
J. Royden Ward, Chief Analyst, Cabot Benjamin Graham Value Investor, www.cabot.net, 978-745-5532, July 24, 2015