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Investing.com - Baird downgraded Itron (NASDAQ:ITRI) from Outperform to Neutral on Friday, while lowering its price target to $118.00 from $137.00. The stock is currently trading at $108.99, having dropped 19.82% over the past week from its previous close of $138.18.
The downgrade comes despite Itron beating third-quarter estimates and raising its guidance, as the company’s book-to-bill ratio disappointed analysts. According to InvestingPro data, Itron maintains a strong financial position with liquid assets exceeding short-term obligations and a healthy current ratio of 2.04.
According to Baird, Itron customers are purchasing more slowly due to the complexity of meeting data center demands combined with consumer pushback from increasing electricity prices.
The research firm noted these challenges are affecting how quickly customers are adopting Itron’s offerings in the current market environment.
Baird indicated it would need to see better visibility on how Itron’s products are being prioritized by customers before taking a more constructive stance on the stock.
In other recent news, Itron Inc. reported its third-quarter 2025 earnings, delivering a strong financial performance. The company achieved earnings per share (EPS) of $1.54, exceeding the forecasted $1.48. This positive earnings surprise highlights Itron’s ability to surpass analyst expectations. Despite the strong earnings report, the company’s stock experienced a decline, which followed broader market trends and investor reactions to guidance and operational challenges. These recent developments are significant for investors monitoring Itron’s financial health and market position.
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