J.P. Morgan is out with its report today on Itron (NASDAQ: ITRI), lowering its PT from $80 to $71.
In a note to clients, J.P. Morgan writes, "We are establishing a December 2012 price target of $71.00 based 15 times 2013E PF EPS of $4.73."
J.P. Morgan maintains Overweight on ITRI.
Shares of ITRI closed Wednesday at $47.08.
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