Itron upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler upgraded Itron to Overweight from Neutral with a price target of $91, up from $72. The firm anticipates another year of solid growth for solar tracker shipments and storage and highlights Itron as one of its favorite ideas, utility levered or otherwise, in the space entering 2024. The firm believes the company’s backlog and leverage toward utility spend provides strong revenue visibility within an uncertain environment, the analyst tells investors.