ORLANDO, Fla., Feb. 6, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies Inc. today announced that it has dropped research coverage on IT Group Holdings Inc. (Pink Sheets:ITGL).
RedChip Companies' "Buy" rating, the initial target price of $1.20 and revised target price of $0.60 are no longer active. For further information on RedChip Companies, our rating system, and our dropping coverage policy, please visit www.redchip.com and review any and all pertinent policies and disclosures.
About IT Group Holdings, Inc.
IT Group Holdings, Inc. does business through its wholly owned U.K. subsidiary Internet Telecommunications PLC. IT Group Holdings is now established as a wholesale carrier-operator supplying service providers and businesses with low-cost telecommunications lines as well as competitive and high-quality telephone call services including voice, data, value-added services such as SMS, and carrier services such as Voice-over-Internet Protocol (VoIP).
About RedChip Companies, Inc.
RedChip Companies is an international small-cap research and financial public relations firm with offices in Beijing and Orlando and affiliates in New York and San Diego. RedChip delivers measurable results for its clients through its extensive international market expertise as well as its comprehensive platform of products: RedChip Research(tm), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences held throughout the United States, RedChip Radio(tm) and RedChip Visibility Research Program services. To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/services.asp
"Discovering Tomorrow's Blue Chips Today."(tm)
Disclosure
The analysts contributing to ITGL RedChip equity research reports do not hold any shares of ITGL. Additionally, the analysts contributing to these research reports certify that the views expressed therein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the ITGL RedChip equity research reports. Additional information on the securities mentioned in the reports is available upon request. This ITGL RedChip equity research reports are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the ITGL RedChip report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed therein are subject to change. ITGL paid RedChip Visibility $28,000 for the RedChip Visibility Research Program, which included the equity research reports.