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ITRI

Itron

$70.40

0.85 (1.22%)

, SSNI

Acquired by ITRI

$0.00

(0.00%)

05:54
02/27/18
02/27
05:54
02/27/18
05:54

Canaccord upgrades Itron to Buy on 'very compelling' entry point

Canaccord Genuity analyst Chip Moore upgraded Itron to Buy from Hold and raised his price target for the shares to $84 from $78. The analyst has increased conviction in the company's forward earnings power and finds current share levels a "very compelling" entry point. He notes the stock is down 10% since the SilverSpring Networks deal announcement back in September. Moore's views the combination as compelling and has increased confidence in cost saving potential post close.

ITRI

Itron

$70.40

0.85 (1.22%)

SSNI

Acquired by ITRI

$0.00

(0.00%)

  • 28

    Feb

ITRI Itron
$70.40

0.85 (1.22%)

11/29/17
ARGS
11/29/17
DOWNGRADE
ARGS
Hold
Itron downgraded to Hold at Argus on expected earnings weakness
As reported earlier, Argus analyst John Eade downgraded Itron to Hold from Buy, saying shares are appropriately valued around $65. Eade notes that the rating change stems from an expected earnings weakness amid stalling backlog growth and anticipated completion of a dilutive deal. Over the long term, the analyst is still positive on the company, saying it stands to benefit from the low penetration of automated meter infrastructure and from projected growth in the gas, electric and water meter market over the next five years.
01/02/18
RAJA
01/02/18
INITIATION
Target $84
RAJA
Strong Buy
Itron initiated with a Strong Buy at Raymond James
Raymond James analyst Pavel Molchanov initiated Itron with a Strong Buy rating and a price target of $84. The analyst says the company stands out as "the only U.S.-listed company substantially leveraged" to power grid efficiency improvement with smart grid technology as well as materializing Internet of Things deployment in lighting systems. Molchanov adds that Itron's "scarcity value and impressive free cash flow metrics must be balanced against the frequently lumpy quarterly results".
01/03/18
01/03/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Itron (ITRI) initiated with a Strong Buy at Raymond James. 2. Extreme Networks (EXTR) initiated with an Outperform at JMP Securities. 3. Flex Pharma (FLKS) resumed with a Buy at Roth Capital. 4. Zynga (ZNGA) initiated with an Outperform at Consumer Edge. 5. Bank of the Ozarks (OZRK) initiated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
02/27/18
ADAM
02/27/18
UPGRADE
ADAM
Buy
Itron upgraded to Buy from Hold at Canaccord
SSNI Acquired by ITRI
$0.00

(0.00%)

09/19/17
OPCO
09/19/17
NO CHANGE
Target $78
OPCO
Outperform
Itron, Silver Spring merger deal potentially transformative, says Oppenheimer
Oppenheimer analyst Noah Kaye says that Silver Spring (SSNI) merger announcement could become a pivotal moment in Itron's (ITRI) evolution. The analyst believes the proposed acquisition elevates Itron's technology leadership, adds significant backlog/installed base, and helps Itron become a nimbler company, better able to participate in higher growth verticals outside of the utility space. Kaye reiterates an Outperform rating and $78 price target on Itron's shares.
09/19/17
OPCO
09/19/17
NO CHANGE
OPCO
Oppenheimer moving to Not Rated on Silver Spring
Oppenheimer is taking its Silver Spring (SSNI) rating to Not Rated after Itron's (ITRI) announcement of an agreement to acquire the former.
09/22/17
09/22/17
DOWNGRADE
Target $16

Neutral
Silver Spring downgraded to Neutral from Buy at FBR Capital
FBR Capital analyst Carter Driscoll downgraded Silver Spring Networks (SSNI) to Neutral with a $16 price target saying the takeover by Itron (ITRI) makes sense.
10/12/17
JMPS
10/12/17
NO CHANGE
Target $102
JMPS
Outperform
Itron price target raised to $102 on Silver Spring deal potential at JMP Securities
JMP Securities analyst Joseph Osha said he sees possibilities for growth in EBITDA and free cash flow following Itron's (ITRI) planned combination with Silver Spring Networks (SSNI) that are not yet reflected in the stock. He also agrees with Itron's CEO that there is better revenue growth potential for the combined entity, but he is not yet including that in his model. Given his positive view of the deal's potential benefits, Osha raised his price target on Itron to $102 from $88 and keeps an Outperform rating on the shares.

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