Itron price target raised to $130 from $125 at Roth MKM

Roth MKM raised the firm’s price target on Itron (ITRI) to $130 from $125 and keeps a Buy rating on the shares after its Q3 earnings beat. The firm is positive on the company’s robust backlog visibility and what should be extended market tailwinds from looming infrastructure investments, the analyst tells investors in a research note. Near-term comparisons are more challenging, but Roth sees the benefits of the company’s asset-light transition to “drive improving margins and sentiment”, the firm added.