Fly News Breaks for August 20, 2019
Aug 20, 2019 | 07:33 EDT
Raymond James analyst Pavel Molchanov downgraded Itron to Outperform from Strong Buy with a $75 price target. Having started the year on a "sour" note amid the margin headwinds from components tightness, the stock has shrugged off those issues and is currently at its highest level since early 2018, Molchanov tells investors in a research note, but downgraded the stock based on the year-to-date outperformance and the resulting multiple recovery. The analyst says he remains bullish on the worldwide need for power grid modernization, and says the longer-storm story remains "appealing."
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