Itron, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Jeff Osborne from TD Cowen maintained a Buy rating on the stock and has a $145.00 price target.
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Jeff Osborne has given his Buy rating due to a combination of factors that highlight Itron’s strategic positioning in the evolving utility sector. The company’s focus on grid modernization and the integration of edge intelligence with ADMS systems is driving significant interest and potential revenue growth. Itron’s annual customer event underscored the company’s ability to capitalize on these trends, with multiple customers planning upgrades to the DI platform, which offers higher revenue potential compared to legacy systems.
Furthermore, Osborne noted that the transition to DI meters is accelerating, with customers like SMUD and CenterPoint actively rolling out new installations. These upgrades not only enhance power quality and integration capabilities but also increase the demand for bandwidth, necessitating further network enhancements. The potential for incremental software revenue as networks are upgraded adds to Itron’s appeal, reinforcing Osborne’s confidence in the company’s growth prospects and justifying the Buy rating.
Osborne covers the Technology sector, focusing on stocks such as SolarEdge Technologies, First Solar, and Itron. According to TipRanks, Osborne has an average return of 5.4% and a 46.76% success rate on recommended stocks.
In another report released on October 23, Roth MKM also maintained a Buy rating on the stock with a $150.00 price target.