TD Cowen analyst Jeff Osborne maintained a Buy rating on Itron (ITRI – Research Report) today and set a price target of $139.00.
Jeff Osborne’s rating is based on the anticipation of Itron’s steady performance in the upcoming quarter, with expectations for results to align with the company’s guidance. He highlights the company’s strategic positioning in grid intelligence, which is increasingly crucial due to rising load demand. Osborne also points to Itron’s ongoing success in its Distributed Intelligence and Intelligent Connectivity initiatives, supported by recent collaborations with major companies like Microsoft and Schneider Electric.
Additionally, Osborne considers the company’s ability to mitigate potential tariff impacts through inflation clauses, given that final assembly occurs domestically in South Carolina. He notes Itron’s strong booking expectations, with a book-to-bill ratio projected around 1:1, suggesting stable revenue prospects. These factors, combined with the company’s strategic partnerships and awards, underpin his confidence in recommending a Buy rating for Itron.