Itron (ITRI): Raising PT Due To Multi Year Opportunity - Needham

November 14, 2016 7:29 AM EST
Get Alerts ITRI Hot Sheet
Price: $61.05 +0.25%

Rating Summary:
    10 Buy, 15 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Needham & Company analyst, Sean Hannan, reiterated his Buy rating on shares of Itron (NASDAQ: ITRI) and raised his price target to $66 from $60 indicating that Itron has "turned the ship" with some fairly consistent execution.

He also believes that its top and bottom lines have a long positive runway the next few years due to projects-in-hand and the long-term nature of deployments. ITRI should "up-shift into a multi-year cycle" in addition to taking cost-out actions offering more upside opportunity to the current model as well as opportunities for multiple expansion.

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 $60.35 yesterday.

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