KeyBanc Downgrades Itron (ITRI) to Hold; Moving To Sidelines After Recent Run
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Price: $80.56 -0.2%
Rating Summary:
16 Buy, 16 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
Rating Summary:
16 Buy, 16 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
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KeyBanc downgraded Itron (NASDAQ: ITRI) from Buy to Hold.
Analyst, Carter B. Shoop, said, "Following the recent share price performance (up 75% since its October 3, 2011 low vs. a 34% increase in the Russell 2000 over the same time frame), we believe Itron’s risk / reward profile over the next 6-12 months is balanced. We see equal upside vs. downside risk to Street estimates ($3.90) and the valuation multiple (12.4x CY12 Street estimates). Further, we believe near-term catalysts have neither a positive nor negative bias. We are downgrading our rating to HOLD. We would look to get more constructive on the shares following increased confidence in: 1) Itron’s ability to win business in the UK and at Iberdrola in Spain; 2) the timing of the ERDF roll-out; and / or 3) Itron’s ability to limit warranty charges and rapidly realize cost savings from restructuring."
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 $48.23 yesterday.
Analyst, Carter B. Shoop, said, "Following the recent share price performance (up 75% since its October 3, 2011 low vs. a 34% increase in the Russell 2000 over the same time frame), we believe Itron’s risk / reward profile over the next 6-12 months is balanced. We see equal upside vs. downside risk to Street estimates ($3.90) and the valuation multiple (12.4x CY12 Street estimates). Further, we believe near-term catalysts have neither a positive nor negative bias. We are downgrading our rating to HOLD. We would look to get more constructive on the shares following increased confidence in: 1) Itron’s ability to win business in the UK and at Iberdrola in Spain; 2) the timing of the ERDF roll-out; and / or 3) Itron’s ability to limit warranty charges and rapidly realize cost savings from restructuring."
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 $48.23 yesterday.
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