Canaccord Genuity Reiterates a 'Buy' on Itron (ITRI); Best 'Value-Based' Growth Stock

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Canaccord Genuity reiterates a 'Buy' on Itron (NASDAQ: ITRI) price target of $58.00.

Analyst, John Quealy, said, "While ‘12 is in transition (restructuring, CEO search, tough compares), the deep product platform (and secular shift toward digital meters) continues to generate solid cash flow and supports our bullish outlook...we find Itron positioned as perhaps one of the best “value-based” growth stocks in our universe, as the discount to fair market value is the most glaring in memory given the two recent take-outs of key competitors (L+G and Elster (NYSE: ELT)), with our math suggesting a theoretical ~$55 price by extrapolating similar multiples."

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 $43.44 yesterday, with a 52 week range of $26.90-$50.35.

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