Itron upgraded to Overweight from Equal Weight at Stephens

Stephens upgraded Itron (ITRI) to Overweight from Equal Weight with an unchanged price target of $130. Weak orders dominated Q3 earnings, but the firm believes risks are more than discounted with shares having retreated by more than 25% to now approach their “post-Liberation Day lows,” the analyst tells investors. Despite near-term noise, the firm believes Itron’s long-term opportunity is unimpaired given the company’s solid number one position as “the IoT provider for utilities whose capex appears upwardly-biased for years to come.”