Baird Reiterates Outperform on Itron (ITRI) Following Enedis Contract Win

November 16, 2016 10:50 AM EST
Get Alerts ITRI Hot Sheet
Price: $61.05 --0%

Rating Summary:
    10 Buy, 15 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 13 | New: 9
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Baird reiterated an Outperform rating and $62.00 price target on Itron (NASDAQ: ITRI) as the company wins Enedis contract. ITRI will supply 4.6M G3 Linky smart meters to Enedis, an electricity distribution network operator in France. In total, the Linky program aims to deploy 35M meters by 2021. The ITRI meters will be manufactured in ITRI’s Chasseneuil, France facility

Analyst Ben Kallo commented, "ITRI was selected to provide 4.6M smart meters for the second phase of the Linky program after successfully delivering more than 1 million meters in the first phase. The large contract should improve revenue visibility, and we view ITRI's selection for the second phase as positive. We believe shares will move higher from the announcement."

For an analyst ratings summary and ratings history on Itron click here. For more ratings news on Itron click here.

Shares of Itron closed at $63.60 yesterday.

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Robert W Baird, Ben Kallo

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