Piper Sandler raised the firm’s price target on Itron (ITRI) to $119 from $110 and keeps a Neutral rating on the shares following “solid” Q3 results. According to the firm, EBITDA exceeded expectations on higher devices revenues and lower operating expenses. Piper believes that 2025 will be much more back-end weighted than the Street anticipates and the potential exists for declining earnings next year. Despite 2025 risks, the firm thinks the broader demand tailwinds remain intact given rising electric utility capital expenditures with a rising mix of distribution capital.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ITRI:
- Itron price target raised to $130 from $125 at Roth MKM
- Itron price target raised to $136 from $125 at TD Cowen
- Itron price target raised to $132 from $123 at Baird
- Itron Inc. Reports Strong Q3 2024 Financial Performance
- Itron reports Q3 EPS $1.84, consensus $1.13
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
