UPDATE: Cantor Fitzgerald Downgrades itron To Hold, Lowers PT To $44

Cantor Fitzgerald released a research report on Itron

announcing the retirement of President and CEO Malcolm Unsworth and his downgrade at the company from Buy to Hold. In its report, Itron writes that, “On August 31, 2011, after the close, Itron announced that Malcolm Unsworth, President and CEO, had retired, effective immediately. He will be succeeded by LeRoy Nosbaum, 65, who held the Chairman and CEO position of Itron from 2002 to 2009.” Cantor Fitzgerald has lowered the price target on shares of ITRI to $44, which closed yesterday at $39.82 and is currently trading down $0.86.