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Fly News Breaks for May 31, 2018
ITI
May 31, 2018 | 15:53 EDT
Craig-Hallum analyst Steve Dyer said his checks on Iteris point to some choppiness and project push-outs in roadway sensor installations in hurricane-impacted regions, particularly Texas. He does not believe these sales are lost, but does expect this trend to continue into the first half of FY19 as municipalities continue to prioritize more critical infrastructure. Dyer decreased his Q4 and first half of FY19 estimates primarily to account for greater than previously anticipated hurricane disruptions and lowered his price target on Iteris shares to $7 from $8 but maintains a Buy rating on the stock.
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