ITRI - Itron: Consider Recent Manufacturing Expansion And Positive Analyst Sentiment

2024-01-26 00:24:10 ET

Summary

• Itron is expanding the manufacturing of its Aquadis+ water meters to Indonesia, which is expected to boost its future sales for the Asia-Pacific market.
• Sell-side sentiment towards ITRI stock has become more favorable in recent months, as evidenced by the changes to its consensus rating and financial forecasts.
• Itron's valuations are undemanding based on the EV/EBIT-to-Growth ratio, which supports a Buy rating for the stock.

Elevator Pitch

I continue to award a Buy investment rating to Itron, Inc. ( ITRI ) shares.

With my earlier write-up for ITRI published on November 6, 2023, I performed an analysis of the company's Q3 2023 financial results and its full-year fiscal 2023 management guidance. For this latest article, I focus on Itron's latest manufacturing expansion announcement and the favorable sell-side sentiment for the stock....

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