Itron resumed with an Underperform at Raymond James

Raymond James resumed coverage of Itron (ITRI) with an Underperform rating. The industry and the business are moderating off what appears to be an unsustainably high amount of advanced metering deployments from 2024, and the duration and magnitude of the normalization period may be underappreciated by consensus and the market, the analyst tells investors in a research note. From a valuation perspective, the stock is worth about 30% below current prices, the firm added.