Itron (ITRI): Raising PT Ahead Of Earnings - Baird

October 25, 2016 6:47 AM EDT
Get Alerts ITRI Hot Sheet
Price: $64.25 +0.39%

Rating Summary:
    10 Buy, 15 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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Baird analyst, Ben Kallo, reiterated his Outperform rating on shares of Itron (NASDAQ: ITRI) price target of $62 from $56 ahead of Q3 earnings.

The analyst raised 2017 estimates and introduced 2018 estimates that reflect anticipated margin improvement and cost reductions and believes "the stock has more room to run".

The new 2018 estimates embed a strong year due to cost reductions and margin improvements. For 2018, the analyst is estimating revenue of $2,164M vs. consensus of $2,146M, adj. EBITDA of $249M vs. $257M, and non-GAAP EPS of $3.52 vs. $2.89. We believe street numbers may still need to be raised given recent execution.

Q3 earnings call will be held on November 2 at 4:00 p.m. CDT.

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 $54.82 yesterday.



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