ITC "equal weight," target price raised

06/11/08 - Lehman Brothers

NEW YORK, June 11 (newratings.com) - Analyst Daniel Ford of Lehman Brothers reiterates his "equal weight" rating on ITC Holdings Corp (ITC). The target price has been raised from $63 to $64.

In a research note published yesterday, the analyst mentions that the ALJ has recommended that ITC Great Plains, a subsidiary of ITC, should be granted utility status in Oklahoma. The ALJ has indicated that ITC Great Plains would be under public utility assessment rules in Oklahoma.