Stifel raises ITT stock price target to $259 on strong orders growth

Stifel has increased its price target for ITT Corp. (NYSE:ITT) to $259 from $256, while retaining a Buy rating. The investment firm highlighted ITT's strong quarter, with organic orders growing 20% year-over-year and organic revenue rising 8% year-over-year. Adjusted operating margin expanded by 140 basis points to 21.0%. ITT's revenue growth of 35.8% over the past year contributed to a market capitalization of $18.33 billion, although the stock trades at a P/E ratio of 42.4.

Stifel's analysis suggests ITT is overvalued, which may deter investors concerned about the high valuation multiples. However, the firm sees positive factors such as CCT backlog growth, FT organic performance, and MT productivity as driving continued earnings compounding into 2027.