Barclays on Itron (ITRI): Potential 2012 Guidance Reset on 2Q Call? Unlikely A Surprise
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Price: $102.09 -0.61%
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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Barclays maintains an 'Equalweight' on Itron (NASDAQ: ITRI) price target of $42.00.
Analyst, Amir Rozwadowski, said, "While we lower our EPS estimates for Itron on expectations for a more gradual cost reduction plan than originally expected, Melrose's bid to acquire Elster (NYSE: ELT) provides support for industry multiple expansion off of recent lows. Thus, despite our reduced expectations, we retain our price target on Itron shares. Incremental color on the pace of international opportunities will be likely be the key focus for the call given consensus expectations for a return to top-line growth in 2H13 and beyond."
FY12 EPS estimate lowered from $3.92 to $3.62 and FY13 from $4.21 to $3.95.
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 $39.11 yesterday.
Analyst, Amir Rozwadowski, said, "While we lower our EPS estimates for Itron on expectations for a more gradual cost reduction plan than originally expected, Melrose's bid to acquire Elster (NYSE: ELT) provides support for industry multiple expansion off of recent lows. Thus, despite our reduced expectations, we retain our price target on Itron shares. Incremental color on the pace of international opportunities will be likely be the key focus for the call given consensus expectations for a return to top-line growth in 2H13 and beyond."
FY12 EPS estimate lowered from $3.92 to $3.62 and FY13 from $4.21 to $3.95.
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 $39.11 yesterday.
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