Needham & Company Reiterates a 'Buy' on Itron (ITRI); Delivers Solid March Quarter; Outlook Remains Healthy
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Price: $90.45 +0.57%
Rating Summary:
13 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 14 | New: 50
Rating Summary:
13 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 14 | New: 50
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Needham & Company reiterates a 'Buy' on Itron (NASDAQ: ITRI), PT $68.
Needham analyst says, "Overall, we believe current business and long-term opportunities at ITRI remain healthy as the company is tucking in solid wins in NA (i.e., BC Hydro –N/R, validating the Cisco (Nasdaq: CSCO)-Not/Rated partnership) and is well positioned to capture its share of wins globally. Despite the likelihood of a flattish top-line in F11, ITRI is producing strong earnings while margins should continue to expand through a more streamlined structure, cost-efficient platforms and tighter operations."
"Our 2Q estimates become $565M in revenues and $1.03, vs. prior $560M and $1.01. For 2011, our model becomes $2.29B and $4.20, vs. our prior $2.23B and $4.12."
For more ratings news on Itron click here and for the rating history of Itron click here.
Shares of Itron closed at $55.18 yesterday.
Needham analyst says, "Overall, we believe current business and long-term opportunities at ITRI remain healthy as the company is tucking in solid wins in NA (i.e., BC Hydro –N/R, validating the Cisco (Nasdaq: CSCO)-Not/Rated partnership) and is well positioned to capture its share of wins globally. Despite the likelihood of a flattish top-line in F11, ITRI is producing strong earnings while margins should continue to expand through a more streamlined structure, cost-efficient platforms and tighter operations."
"Our 2Q estimates become $565M in revenues and $1.03, vs. prior $560M and $1.01. For 2011, our model becomes $2.29B and $4.20, vs. our prior $2.23B and $4.12."
For more ratings news on Itron click here and for the rating history of Itron click here.
Shares of Itron closed at $55.18 yesterday.
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