Baird Reiterates Outperform on Itron (ITRI) Following Solid 1Q Report - PT to 47

August 12, 2016 7:10 AM EDT
Get Alerts ITRI Hot Sheet
Price: $54.73 -0.09%

Rating Summary:
    9 Buy, 16 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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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."

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 $43.69 yesterday.

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