Itron -7.3% on 2-notch BofA/Merrill downgrade

Itron (NASDAQ:ITRI) has received a 2-notch downgrade to Underperform from BofA/Merrill's Andrew Hughes.

Hughes states expected vendor announcements for global smart meter rollouts failed to materialize in 1H14. He's also worried about "new competitive threats enabled by the rapid growth in distributed solar generation."

Q2 results are due on Aug. 5.

Comments (1)
  • mzm
    , contributor
    Comments (2) | Send Message
    Can Itron's meters not measure excess solar production fed back into the utility's network? If they can, I would think this is an upside rather than a risk since I've read that some governmental agencies have required utilities to accept this distributed electrical production.
    21 Jul 2014, 01:22 PM Reply Like
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