BUZZ-Oppenheimer raises PT on Itron after strong results

Reuters
02/18
BUZZ-Oppenheimer raises PT on Itron after strong results

** Oppenheimer hikes PT on energy and water resource management firm Itron ITRI.O to $133 from $125, maintains rating at "outperform"

** New PT implies a 37.9% upside from the stock's last close

** Itron on Tuesday posted Q4 adjusted profit above Wall Street estimates

** "Grid Edge Intelligence platform adoption drove strong financial results in the fourth quarter" - CEO Tom Deitrich

** Brokerage says Itron poised for continued margin expansion and faster deleveraging as recurring revenue grows and its asset-light model scales

** Also lifts co's 2026 adjusted EPS forecast to $5.93 from $5.53

** Eleven of 13 brokerages rate the stock "buy" or higher, two "hold"; their median PT is $143.12 - data compiled by LSEG

** As of last close, ITRI up 3.8% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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