UPDATE: Jefferies Downgrades Itron to Hold on Weak Order Wins
Jefferies downgraded Itron (NASDAQ: ITRI) from Buy to Hold.
Jefferies noted, "The industry is moving back to the mean after stimulus drove above average growth rates for the sector in 2009-2012. Weakness is expected for the next few quarters and has been well telegraphed by management. However, in the absence of near-term order wins, overly optimistic consensus estimates, as well as an uncertain trajectory for ITRI's core business in the next 2 quarters, we are moving to the sidelines."
Itron closed at $44.98 on Wednesday.
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