Baird Reiterates Outperform on Itron (ITRI) Following Solid 1Q Report - PT to 47
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Baird reiterated an Outperform rating and $47.00 price target on Itron (NASDAQ: ITRI) following the company's 1Q earnings report. ITRI reported revenue of $497.6M vs. consensus estimates of $450.8M. Non-GAAP EPS was $0.44 vs. consensus estimates of $0.32.
Analyst Ben Kallo commented, "Q1 beat our estimates across the board. Q1 bookings were softer than expected, but we believe that will pick up in Q2 due to recent wins. The company should provide Q2 results and updated guidance by September 12, which should provide more clarity moving forward. ITRI remains one of our favorite picks, and we believe the company is positioned for long-term growth."
Shares of Itron closed at $43.69 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Cowen Downgrades Under Armour, Inc. (UA) to Market Perform
- Edwards Lifesciences (EW) PT Lowered to $114 at Stifel, 'Buy' Kept
- Apple (AAPL) PT Raised to $135 at Brean Capital
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRobert W Baird, Earnings, Ben Kallo
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!