More Smart Grid Analyst Calls: Itron (ITRI) A Buy, Echelon (ELON) At Outperform

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12:38:44 pm on September 10, 2009

I missed the Itron (ITRI) Buy rating from Brean Murray and should have included it in the last post along with the other smart grid calls.  The firm has initiated this smart grid leader with a Buy rating and 12 month price target of $65/share.  Despite delays in the federal stimulus rollout, they still believe the company is on track for solid growth in 2010.

Itron has begun to show some life and is now up 12 straight days, but hitting some resistance around the June 09 highs.

Wedbush Morgan is also chiming in with a smart grid call of its own, initiating coverage on Echelon (ELON) with an Outperform rating and $15 price target.   The firm says ELON has a strong balance sheet, sufficient cash and is a differentiated play on the smart grid and green building technology. 

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