Itron price target raised to $122 from $112 at Roth MKM

Roth MKM raised the firm’s price target on Itron to $122 from $112 and keeps a Buy rating on the shares. The firm remains constructive on the company’s “robust backlog visibility” over the next couple of years and its expected ongoing market tailwinds from looming infrastructure investments, the analyst tells investors in a research note. Itron is also a more “countercyclical play”, which is a positive given the more uncertain macro and political environment, the firm added.