Brean Capital Downgrades Itron (ITRI) to Hold
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Price: $42.80 +1.21%
Rating Summary:
9 Buy, 12 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
9 Buy, 12 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade ITRI Now!
Brean Capital downgraded Itron (NASDAQ: ITRI) from Buy to Hold following Q4 results and outlook.
The firm comments, "Itron's 4Q12 results were well below our and consensus expectations, as was 2013 guidance. Based on forward guidance (and Itron's track record of lowering annual guidance throughout 2012), we've cut our 2013 EPS estimate substantially, and also lowered our rating from Buy to Hold, given the shares are essentially trading at our former $48 target price. We expect downside pressure near term to share prices given the anemic guidance for 2013, but acknowledge the shares look inexpensive against 2014 EPS forecasts, which should lend some support (at lower share price levels)."
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 $47.85 yesterday, with a 52 week range of $33.33-$50.35.
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The firm comments, "Itron's 4Q12 results were well below our and consensus expectations, as was 2013 guidance. Based on forward guidance (and Itron's track record of lowering annual guidance throughout 2012), we've cut our 2013 EPS estimate substantially, and also lowered our rating from Buy to Hold, given the shares are essentially trading at our former $48 target price. We expect downside pressure near term to share prices given the anemic guidance for 2013, but acknowledge the shares look inexpensive against 2014 EPS forecasts, which should lend some support (at lower share price levels)."
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 $47.85 yesterday, with a 52 week range of $33.33-$50.35.
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