Itron initiated with a Hold at Canaccord

Canaccord analyst Austin Moeller initiated coverage of Itron with a Hold rating and $68 price target. Itron, a major supplier of metering equipment, industrial IoT smart meters, and grid data analytics solutions, currently is growing faster than its peer group of IIoT and networking companies and the firm believes that further improvements in supply chain disruption, completion of facility restructuring in early 2025 and delivery of lower-margin inventory could provide rationale for investors to get more bullish “within the next several months.”