Canaccord Genuity maintains a 'Buy' on Itron (ITRI); Notes From CEO Meeting
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Price: $98.86 +0.13%
Rating Summary:
16 Buy, 16 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 20 | New: 18
Rating Summary:
16 Buy, 16 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 20 | New: 18
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Canaccord Genuity maintains a 'Buy' on Itron (NASDAQ: ITRI) price target of $58.00.
Analyst, John Quealy, said, "After hosting investor meetings, we’re impressed with the clarity, transparency and level of urgency displayed by CEO LeRoy Nosbaum as he returns to stabilize and re-start momentum at this market leader. The actions underway are targeted, with early indications of success and share gains very encouraging. Our constructive outlook is in contrast to Street scepticism, which likely keeps shares volatile near term."
"Changes have been swift, with new sales leadership in smart meters, Asia Pacific, etc., bringing modest share gains within sight (e.g., LatAm, gas). Warranty issues are addressed with a newly created director of quality position. SmartSynch positions the company nicely for larger North American projects (likely ‘14/15), while more M&A could emerge in software/services, in our view. CEO succession activities continue, as LeRoy is committed to a successful and deliberate transition thru ‘13."
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 $46.13 yesterday.
Analyst, John Quealy, said, "After hosting investor meetings, we’re impressed with the clarity, transparency and level of urgency displayed by CEO LeRoy Nosbaum as he returns to stabilize and re-start momentum at this market leader. The actions underway are targeted, with early indications of success and share gains very encouraging. Our constructive outlook is in contrast to Street scepticism, which likely keeps shares volatile near term."
"Changes have been swift, with new sales leadership in smart meters, Asia Pacific, etc., bringing modest share gains within sight (e.g., LatAm, gas). Warranty issues are addressed with a newly created director of quality position. SmartSynch positions the company nicely for larger North American projects (likely ‘14/15), while more M&A could emerge in software/services, in our view. CEO succession activities continue, as LeRoy is committed to a successful and deliberate transition thru ‘13."
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 $46.13 yesterday.
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