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Fly News Breaks for September 30, 2015
ITC
Sep 30, 2015 | 05:50 EDT
UBS analyst Julien Dumoulin-Smith downgraded ITC Holdings to Sell citing increasing competition and the company's reduced level of repurchase activity. A lower probability of success with ITC's Lake Erie project and further uncertainty about whether the company will be able to convert to a Real Estate Investment Trust can also lead to share underperformance, Dumoulin-Smith tells investors in a research note. He cut his price target for shares to $32 from $35.
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