Itron initiated with a Buy at Roth MKM

Roth MKM initiated coverage of Itron with a Buy rating and $82 price target. The firm is positive on the company’s visibility over the next couple of years and what it expects to be extended market tailwinds from infrastructure investments starting around 2025. With supply chain challenges abating, the benefits of the company’s asset light transition should drive improving sentiment, and Roth sees more material margin uplift in 2025 given the timing of project deployments, the analyst tells investors in a research note.