Deutsche Bank Starts Itron (ITRI) at Hold; Uncertain Outlook
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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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Deutsche Bank initiates coverage on Itron (NASDAQ: ITRI) with a Hold. PT $40.00.
Deutsche analyst says, "Itron is a market leader in meters to the electricity, gas and water utility industry. While the shares are trading at the low range of historic valuation levels, we do not expect multiples to improve given our view for decelerating earnings power through 2013, risk of a potentially dilutive acquisition and associated increased leverage levels as well as reduced earnings power in the company’s core business. Recent changes in management may indicate a shift in strategy which we believe will be positively viewed by investors, however, we expect shares to remain range bound until visibility surrounding 2H12 earnings and 2013 improve, all things being equal."
For more ratings news on Itron click here and for the rating history of Itron click here.
Shares of Itron closed at $38.19 yesterday.
Deutsche analyst says, "Itron is a market leader in meters to the electricity, gas and water utility industry. While the shares are trading at the low range of historic valuation levels, we do not expect multiples to improve given our view for decelerating earnings power through 2013, risk of a potentially dilutive acquisition and associated increased leverage levels as well as reduced earnings power in the company’s core business. Recent changes in management may indicate a shift in strategy which we believe will be positively viewed by investors, however, we expect shares to remain range bound until visibility surrounding 2H12 earnings and 2013 improve, all things being equal."
For more ratings news on Itron click here and for the rating history of Itron click here.
Shares of Itron closed at $38.19 yesterday.
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