Itron (ITRI) has begun a 3 year deployment of 4 million OpenWay smart meter systems for So Co Edison’s residential and small commercial customers.
Senior VP of SCE, Lynda Ziegler, said, “These new digital, secure, two-way communicating meters will measure electricity usage up-to-the minute and, when fully implemented, will enable customers to track how much they use, and how much it costs them. As part of its Edison SmartConnect(TM) program, SCE plans to offer customers … Read the rest
Two green stock upgrades this morning in CSIQ and ITRI..
Collins Stewart is upgrading Canadian Solar (CSIQ) to Buy and setting the price target at $21.
Hat tip to Street Insider for the following analyst notes.
The firm still sees Q3 traditional module shipments of 90MW, but lowered its quarterly estimate for eModules from 15MW to 10MW. Collins Stewart also lowered its Q3 average selling price estimate from $2.15 per watt to $2.08. The firm … Read the rest
Itron just announced a partnership with OpenPeak that will give consumers a greater ability to control the amount of energy used in their home. The partnership will allow Itron to combine its advanced metering systems with Open Peak’s Home Energy Management Solution.By combining these two technologies, customers can view their energy usage and associated pricing info (provided by Itron) using an easy-to-use, touch-screen interface (provided by Open Peak).
In a press release, Philip Mezey, … Read the rest
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 … Read the rest
Itron just announced that it plans to rev up production capacity to meet expected demand for its smart meters with a new automation system. Yesterday, the company held a ribbon-cutting ceremony to show off its new OpenWay system at its production line in Westminster, New York. Itron is expecting an increased demand of its smart meters as a result of the stimulus, and the OpenWay system is designed to ensure that Itron can meet that … Read the rest
I just came across an article written over a month ago by well known investment “guru” Tobin Smith, highlighting three “hidden gem” green stocks. The article highlights Itron (ITRI), VMware (VMW) and Echelon (ELON) as companies that could benefit big in the coming green energy revolution. Itron (ITRI) may be relatively unknown to the average investor, but considering it’s the big guy in the smart grid space, it’s quite well known to those with … Read the rest
Along with its earnings report today which beat expectations, Itron (ITRI) has announced a contract with California’s Glendale Water & Power to provide them with smart metering technology for both its water and electricity operations. No word on the financials but Glendale serves 120K customers. Itron’s OpenWay advanced metering system provides a two way communication between the meter and the utility, providing for data collection, use limitations, outage detection, remote metering and home networking … Read the rest
As I mentioned on Twitter today, I decided to take a shot at an Itron (ITRI) entry ahead of earnings after the bell today. Why? Last quarter, they missed badly and the stock gapped down. When you get a situation like that, analysts greatly lower expectations and the bad news gets built into the stock, setting up a greater likelihood of a relief rally on the next earnings report. Even if the company misses, … Read the rest
Itron just announced that it is partnering with Ambient Corporation to integrate Itron’s smart grid and AMI components with Ambient’s smart grid communications platform. The partnership, created under a memorandum of understanding signed by both companies, will allow Itron and Ambient to join together and provide a complete smart grid system for utility customers.
The agreement will integrate Itron’s OpenWay advanced metering application with Ambient’s Smart Grid communications technology. This will enable legacy equipment to … Read the rest
Comverge and Itron just announced that they have a reached a milestone in their smart grid collaboration. They have successfully integrated Comverge’s Apollo(TM) demand response platform with Itron’s Open Way(TM) advanced metering infrastructure. The integration will allow utilities to better communicate with energy management devices for demand response events and to manage demand on the grid during times of heavy usage.
In a press release, executives from both companies commented on the milestone:
“This … Read the rest