Analyst Jeff Osborne of TD Cowen maintained a Buy rating on Itron (ITRI – Research Report), with a price target of $136.00.
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Jeff Osborne’s rating is based on Itron’s potential to rebound strongly in the upcoming quarter, particularly in terms of its bookings performance. The company is targeting approximately $1.1 billion in awards to achieve a 1:1 book-to-bill ratio, which suggests a significant improvement from the previous quarter’s lower-than-expected results. This target is supported by Itron’s recent agreement with LUMA in Puerto Rico to deploy 1.5 million smart meters, an initiative that is projected to contribute substantially to the company’s business growth.
Another factor underpinning the Buy rating is the anticipation of continued growth in Itron’s Outcomes business, which includes solutions for Distributed Intelligence and energy management. The company is expected to benefit from increased utility capital expenditures and growing load demands, which are likely to drive stronger financial performance in the fiscal year 2026. Investors are also advised to keep an eye on the evolving grid investment landscape and policy changes, as these could further enhance Itron’s growth prospects.
Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ITRI in relation to earlier this year.