In a report released today, Jeff Osborne from TD Cowen maintained a Buy rating on Itron (ITRI – Research Report), with a price target of $139.00.
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Jeff Osborne’s rating is based on Itron’s strategic positioning in the evolving grid modernization landscape. The company is poised to benefit from a decade-long cycle of grid upgrades in North America, with additional opportunities in Europe. Itron’s technological advancements, particularly in distributed intelligence (DI) solutions, provide a competitive edge, as these solutions offer higher average selling prices and increased software integration.
Furthermore, the market has consolidated from five players to two, with Itron holding a significant lead. The transition from traditional billing-centric systems to more comprehensive solutions addressing load growth and environmental concerns positions Itron favorably. This shift is expected to drive revenue and margin growth, supporting the Buy rating.
According to TipRanks, Osborne is a 2-star analyst with an average return of 0.4% and a 41.62% success rate. Osborne covers the Technology sector, focusing on stocks such as Itron, First Solar, and Sunrun.
In another report released on May 2, Roth MKM also maintained a Buy rating on the stock with a $130.00 price target.