Itron (ITRI) PT Lowered to $38 at Baird

Baird analyst Ben Kallo reiterated an Outperform rating but lowered his price target on Itron (NASDAQ: ITRI) to $38.00 (from $45.00) following disappointing results.

Kallo commented, "ITRI had strong revenue but missed consensus EPS after accounting for the warranty impact in its Water segment, FX, and higher taxes due to valuation allowances. Additionally, ITRI’s Gas segment is facing headwinds in EMEA, and experienced manufacturing disruptions. We are not downgrading shares given expected growth in 2016, although consistent execution needed before the stock works."

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 $30.91 yesterday.

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