Itron price target raised to $145 from $139 at TD Cowen

TD Cowen raised the firm’s price target on Itron (ITRI) to $145 from $139 and keeps a Buy rating on the shares. The firm sees a decade-long cycle ahead for grid modernization in North America, with load growth driving demand for network and software solutions to squeeze more out of the grid. Itron has a 2+ year lead with shrinking competition in grid edge solutions. Revenue and margins are poised to accelerate as DI grows and attach rate of software post deployment increases.