Itron price target lowered to $136 from $150 at Roth Capital

Roth Capital analyst Chip Moore lowered the firm’s price target on Itron (ITRI) to $136 from $150 and keeps a Buy rating on the shares after its Q1 results and below-consensus Q2 guide. Itron’s revenue growth trajectory is more subdued near-term, driven by complex projects and transitory regulatory dynamics, the firm expects benefits of the company’s asset-light transition to continue to drive improving wallet share, margins, and sentiment, the analyst tells investors in a research note.