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Fly News Breaks for November 6, 2018
ITRI
Nov 6, 2018 | 08:10 EDT
JMP Securities analyst Joseph Osha noted that Itron reported better than expected earnings in Q3, but said that appears due to a one-quarter bump resulting from strong gas metering sales and that the company's outlook indicates gross margins are likely to decline again in Q4. While he lowered his price target on Itron shares to $80 from $107 after the company gave "a mediocre outlook," Osha still sees value at the stock's current level and reiterates an Outperform rating.
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