06:55 AM EDT, 08/04/2025 (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 cut our 12-month target price by $10 to $148, shifting to a P/E of 23x our 2026 EPS view, below its three-year historical average. We lift our 2025 EPS view to $6.11 (from $5.51) and 2026's to $6.42 (from $6.06). We maintain our Buy rating following strong Q2 results that reinforce ITRI's exceptional operational execution amid challenging conditions. Despite lowering revenue guidance by 3% due to project timing delays, management's 13% EPS guidance increase demonstrates margin expansion power. Record Q2 gross margins of 36.9% and adjusted EBITDA of $90 million validate our profitability thesis. The robust $4.5 billion backlog provides revenue visibility, while Device Solutions approaches our 30% gross margin target. Strong FCF of $91 million and minimal net debt position ITRI well for strategic investments. We view temporary utility capex constraints as cyclical headwinds rather than structural challenges, with long-term grid modernization trends supporting ITRI's essential infrastructure solutions.