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

|By:, SA News Editor

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.