Water Industry News
ITT embraces sludge
Prudential target price of $125
September 13, 2005
NEW YORK, September 13 (newratings.com) - Analyst Nicholas P Heymann of Prudential Financial maintains his "overweight" rating on ITT Industries (ITT.NYS). The target price is set to $125.
In a research note published yesterday, the analyst mentions that the company is poised to benefit significantly in the near future from US municipal and state government initiatives to modernize the wastewater and water treatment infrastructure throughout the country.
ITT Industries has made changes in its fluid control divisionís top management team in order to enhance the company's growth prospects and expand into the attractive sludge disposal market, the analyst says. Prudential Financial expects the company to dispose some of its underperforming businesses in 2006.