Itron just announced a new partnership with Ruggedcom to help both companies increase their smart-grid related business. Under the agreement, Ruggedcom’s RuggedMAX product will be integrated into Itron’s OpenWay smart metering product to provide utilities with an extra WiMAX backhaul communications option.
In a press release, Elik Jaeger, Vice President of RuggedWIRELESS for RuggedCom, commented on the agreement:
“The collaboration with Itron is part of our commitment to work with leading providers of Smart … Read the rest
They have upgraded First Solar (FSLR) to Buy and raised the price target from $125 to $155. “The company has demonstrated great flexibility with its business, and has built a captive project pipeline that can insulate the company should individual markets wither, or module ASPs come under great pressure.”
After last quarter’s earnings report I declared that Itron (ITRI) had finally turned the corner and after another quarter of smashing estimates it appears they’re turning that corner up on two wheels, smoke billowing out the back. The company smashed EPS and revenue estimates after the bell today posting a non GAAP EPS of $1.01 (really .75/share if you take out .26/share tax benefit) on revenues of $499 million. That’s still way ahead of the … Read the rest
Both Deutsche Bank and Canaccord Adams are reiterating their Buy rating on Itron (ITRI) ahead of earnings after the bell tomorrow. Both raised the price target from $80 to $85.
Deutsche believes Itron’s Q1 results will exceed expectations and that “improving macro trends were only partially offset by FX (3% Q/Q) and Cu headwinds.”
Canaccord said, “In short, Itron is beginning to benefit from much better OpenWay capacity utilization, as customers look to notably accelerate … Read the rest
A few more analyst calls this morning. Collins Stewart has downgraded shares of Canadian Solar (CSIQ) from Buy to Hold and has a $20 – 24 price target on it. They believe that while strong demand has led to a firming of module prices, but it’s so strong that its pulling up the prices of cells and wafers which may weigh on CSIQ margins. Shares of CSIQ are trading down 5% today and appear headed … Read the rest
The Azerigas Production Union which is responsible for the transmission and sale of natural gas in the Azerbaijan region of central Asia announced they will implement Itron’s smart meter and payment system in the city of Baku and will roll it out nationwide eventually. Itron has already begun shipping its smart payment meters and smart cards as well as the management software. Consumers will be able to purchase meter credit with their smart cards through … Read the rest
Brean Murray is out with a bullish call on the smart grid sector this morning and believes that with healthcare reform out of the way, the government will return its attention back to energy and energy efficiency. Hat tip to Street Insider for the following analyst comment.
“…With (Fed’s) funding checks expected by the second half of 2010 accelerating smart grid deployment projects, and an expectation for increased federal attention back toward energy and efficiency … Read the rest
Two heavy hitters are collaborating, bringing their smart grid technologies together to reduce the cost and complexity for utilities to deploy smart meters. Itron (ITRI) and Lockheed Martin (LMT) announced today that they will integrate Lockheed’s SEEload Demand Response Solution with Itron’s smart grid platform bringing together Itron’s smart grid expertise with Lockheed’s security, command and control and integration expertise.
Itron VP Philip Mezey commented: “Fostering the … Read the rest
Itron just announced that it will be collaborating on smart grid solutions with Tropos Networks. The two companies will work together to develop an integrated network solution for the utility market as well as other smart grid applications. The solution will allow utilities to create a private broadband network for utility applications.
Itron (ITRI) reported strong earnings results after the bell last night and two brokerages came out with notes on the quarter today. Needham upgraded Itron from Hold to Buy and raised the price target to $69 while Janco Partners downgraded it from Accumulate to Market Perform due to valuation and lack of international growth. Hat tip to Street Insider for the following analyst comments:
Janco: “Yesterday the Company reported fourth quarter results after the close … Read the rest
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