Wunderlich Securities Lowers Its Price Target on Itron, Inc. (ITRI)

Wunderlich Securities is out with a research report this morning, where it reiterates its Hold rating on Itron, Inc. ITRI; it has a $63.00 price target on the stock, down from $70.00. The WS analysts believe that revenue growth for Itron may have peaked in the near term and that barring a significant uptick in housing starts, revenue may begin to decline in late 2012 as stimulus-funded spending declines. As for valuation, the analysts remarked, “ITRI shares currently trade within 2% of the comparable group P/E. At our $63 price target the shares would trade for a slight premium to the group.”