Itron price target raised to $110 from $105 at Seaport Research

Seaport Research raised the firm’s price target on Itron to $110 from $105 and keeps a Buy rating on the shares. The business models of Electric Utilities are changing, with Smart Grid, infrastructure, upgrades, and renewals, among others, having moved up the priority ladders and are being supported by a favorable rate case environment, the analyst tells investors. Further, there is government funding behind these initiatives, the firm adds. Overall, the firm believes Itron is in the middle of these spending trends and a multi-year earnings growth story.