Price Target Adjustment#
Roth/MKM has lowered its price target for Itron Inc. (NASDAQ:ITRI) from $150 to $136, while still maintaining a Buy rating on the stock. Currently, Itron's shares are trading at $87, reflecting a significant decline of 37% over the past six months and 39% below its 52-week high of $142.
Revenue Growth Concerns#
The firm attributes this price target adjustment to a more cautious outlook on Itron's near-term revenue growth. This slowdown is influenced by complex projects and changing regulatory conditions that may affect the company's performance in the short term.
Positive Backlog and Market Dynamics#
Despite the concerns, Roth/MKM remains optimistic about Itron's strong backlog and visibility in its project pipeline. They anticipate continued favorable market conditions driven by evolving grid dynamics and ongoing product cycles. The firm also noted a growing demand momentum in the mid-term, suggesting limited downside risk for the stock at its current levels.
Strong Earnings Report#
In recent news, Itron reported its earnings for the first quarter of 2026, exceeding analyst expectations. The company posted earnings per share (EPS) of $1.49, surpassing the forecast of $1.23. Additionally, Itron's revenue reached $587 million, exceeding the anticipated $572.09 million. Despite these positive results, the stock saw a decline in pre-market trading, possibly due to investor concerns regarding other aspects of the company’s performance and future outlook.