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Downgrade Alert for ITC Holdings (ITC)

By David Diaz

ITC Holdings (NYSE:ITC) was downgraded from Buy to Hold at Edward Jones today. The stock closed yesterday at $45.50 on volume of 30.6 million shares, above average daily volume of 1.3 million.

In the past 52 weeks, ITC Holdings share prices have been bracketed by a low of $30.33 and a high of $47.46 and closed yesterday at $45.50, 50% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.7%.

Based on a current price of $45.50, ITC Holdings is currently 20.6% above its average consensus analyst price target of $36.12. ITC Holdings shares have support at the 50-day moving average (MA) of $42.83 and additional support at the 200-day MA of $37.27.

ITC Holdings Corporation is a holding company. Through subsidiaries, the Company transmits electricity from electricity generating stations to local electricity distribution facilities. ITC invests in electricity transmission infrastructure improvements as a means to improve electricity reliability and reduce congestion.

SmarTrend is tracking the current trend status for ITC Holdings and will alert subscribers who have ITC in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades itc holdings

Ticker(s): ITC