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Fly News Breaks for February 28, 2019
ITRI
Feb 28, 2019 | 08:35 EDT
JMP Securities analyst Joseph Osha said Itron reported December quarter results that were pretty much in line with his estimates with "no big surprises. He is less convinced that a big recovery is underway on gross margin following the company's report and call and reduced his estimates for both 2019 and 2020, leading Osha to cut his price target on Itron shares to $72. However, he keeps an Outperform rating and continues to see value in the stock, "in part simply because the model is recovering from relatively low margins," Osha stated.
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