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ITV: shares up after positive broker comments

(CercleFinance.com) - Shares in ITV, Britain's largest free-to-air commercial broadcaster, are up over 2% on Thursday, following a broker's positive comments on the stock.

In a research note issued this morning, Morgan Stanley maintained its "outperform" rating and target price of 230 pence on the shares, but also raised its earnings estimates for the company.

In particular, the broker insists on the fact that the stock has become "too cheap," now trading at a 10 year P/E low of under 10x EPS for 2017-2020.

ITV shares are currently up 2.5% at 152.6 pence on the London Stock Exchange.

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