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ITT to Unveil Electric Vehicle Charging Solutions in EVS 30

Zacks

ITT Inc.’s ITT Cannon brand is slated to unveil a comprehensive portfolio of premium electric vehicle (EV) charging solutions in EVS 30 — the Electric Vehicle Symposium and Exhibition — slated to be held this October at Stuttgart, Germany. The move is in sync with the company’s motto to link the future of e-mobility with state-of-the-art EV charging solutions.

Over the last month, ITT Inc.’s shares yielded a return of 12.3%, outperforming 3.6% growth recorded by the industry.

Notably, the company’s earnings are predicted to grow nearly 15% in the next three to five years. This Zacks Rank #3 (Hold) stock is poised to grow on the back of stronger innovation and greater operational efficacy. However, on the other side, sluggish oil & gas industry, as well as the aerospace and defense business might partially dent its near-term performance.

Inside the Headlines

Currently, prolonged charging periods is primarily limiting the rapid adaptation of electric vehicles.
In EVS 30, ITT Inc.’s Cannon brand will roll out its new advanced liquid cooled, Direct Current (DC) High Power Charging system (HPC). It will charge vehicles with a speed of 60 mile/100kilometres in just minutes. The system will include a cable, connector and a cooling unit.

Moreover, the company will unveil a wide portfolio of Alternative Current (AC) charging solutions in the exhibition. These solutions will comprise amperage range of 10A-80A. The company noted that this solution will enable charging of up to 500 amperage (A) at 1,000 Volt (V), potentially offering a 60-mile charge within almost three to five minutes.

Stocks to Consider

Better-ranked stocks in the industry are listed below:

Bunzl PLC BZLFY sports a Zacks Rank #1 (Strong Buy). In the next three to five years, the company’s earnings are estimated to be up 3.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Danaher Corporation DHR carries a Zacks Rank #2 (Buy). The company’s earnings are projected to grow 12.4% in the next three to five years.

Barloworld Ltd. BRRAY also holds a Zacks Rank #2, at present. The company’s earnings are anticipated to climb 17.3% during the same time frame.

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