This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
ITV stock
ITV (ITV)
Will shares fall back towards 141p lows or rally towards 277p highs?
Following on from Lloyds, ITV (ITV) is another stock that has a history of returning cash to shareholders in the form of….special dividends! Quite simply, ITV is seen as undervalued. With shares down 30% year to date, and following an impressive post-Brexit performance, might the company use its results announcement to reward the faithful? Even if it doesn’t, its near 4% regular dividend yield and forward P/E ratio of 11.9 (anything less than 12 generally accepted as being a reasonable price, notwithstanding other factors) should attract interest from more risk-averse income seekers.
Reporting: Half-year results on 27 July
Broker Consensus: 54% Buy, 42% Hold, 4% Sell
Bullish: Liberum, Buy, Target 375p, +100% (18 Jul)
Average 12-month target price: 228p, +22% (22 Jul)
Bearish: Societe Generale, Sell, Target 155p, -17% (7 Jul)
NB: All pricing and consensus data from Bloomberg on 22 July; Full consensus breakdown available on request
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Prepared by Michael van Dulken, Head of Research
