01:25 PM EDT, 07/10/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target to $158 from $132, shifting to a P/E of 26x our 2026 EPS view, below its three-year historical average of 33x. We keep our 2025 EPS estimate at $5.51 and lift 2026's to $6.06 from $5.98. We maintain our Buy rating following ITRI's strong Q1 performance that delivered record gross margins of 35.8% and 27% EPS growth to $1.42. We think ITRI's transformation to higher-margin recurring revenue is gaining traction, with the Outcomes segment growing 14% Y/Y. We expect continued operational leverage from ITRI's strategic shift away from hardware-centric operations to software and analytics platforms. We believe its leadership in grid edge intelligence solutions positions it to capitalize on utility modernization trends. ITRI's nearly doubled FCF to $67.5M demonstrates improved capital efficiency. We view the $4.7B backlog as providing revenue visibility, with 95%+ from higher-margin segments. Despite modest revenue growth, we see sustainable margin expansion driving long-term value creation as utilities increasingly invest in smart grid infrastructure and data analytics capabilities.