Two firms lowered Itron’s price targets after Q1 results but kept Buy ratings amid strong backlog and margin outlook.
Analysts at TD Cowen and Roth/MKM reduced Itron, Inc. (NASDAQ:ITRI) price targets to $130 and $136, respectively, while maintaining Buy ratings. TD Cowen cited Q1 outperformance due to a pull-forward, leading to softer Q2 guidance, while Roth/MKM noted near-term revenue softness from complex projects and regulatory trends.
Despite the cuts, both firms highlighted Itron’s strong backlog, pipeline clarity, and an asset-light shift expected to improve margins and wallet share. The company’s profit margin stands at 12.31%, with a trailing twelve-month ROE of 18.58%, though its share price has underperformed the S&P 500.
Itron provides technology for energy, water, and smart city management, with operations spanning device solutions, networked solutions, and resiliency segments.