Needham & Company Reiterates a 'Buy' on Itron (ITRI); Mixed Results On Higher Opex; Awaiting European Announcements
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Price: $101.56 -1.13%
Rating Summary:
16 Buy, 16 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 16 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Itron (NASDAQ: ITRI) price target lowered from $53 to $50.
Analyst, Sean K.F. Hannan, said, "While investors patiently wait for large European announcements, ITRI’s base Energy (non-OpenWay) and Water businesses are delivering generally solid bookings and results. As total revenues seem likely to decline in 2H12 due to the well known wind down of NA-based OpenWay projects, we expect a leaner model should ultimately emerge (following heavy 1Q spending) just as European activity is expected to pick up. We encourage investors to not be too distracted by the immediate quarters and instead focus on longer-term in Europe, which remains a region where we believe ITRI will be a large player."
"Our 2Q now $569M in revs. & $0.94, vs. prior $545M & $0.98. For ’12, now $2.23B and $3.84, vs. $2.20B & $4.00."
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 $44.73 yesterday.
Analyst, Sean K.F. Hannan, said, "While investors patiently wait for large European announcements, ITRI’s base Energy (non-OpenWay) and Water businesses are delivering generally solid bookings and results. As total revenues seem likely to decline in 2H12 due to the well known wind down of NA-based OpenWay projects, we expect a leaner model should ultimately emerge (following heavy 1Q spending) just as European activity is expected to pick up. We encourage investors to not be too distracted by the immediate quarters and instead focus on longer-term in Europe, which remains a region where we believe ITRI will be a large player."
"Our 2Q now $569M in revs. & $0.94, vs. prior $545M & $0.98. For ’12, now $2.23B and $3.84, vs. $2.20B & $4.00."
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 $44.73 yesterday.
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