Itron price target lowered to $145 from $155 at Oppenheimer

Oppenheimer analyst Noah Kaye lowered the firm’s price target on Itron (ITRI) to $145 from $155 and keeps an Outperform rating on the shares. The firm notes shares traded down sharply Thursday after Itron beat Q3 consensus estimates, while guiding the Q4 sales and bookings outlook lower than the Street estimate. As investors digest an incrementally slower hardware sales cycle related to utility regulatory/planning uncertainty, along with lapping $1/share discrete tax benefits into FY26, Oppenheimer anticipates investor caution until signals of increased project flow rates present.