Itron, Inc. Stock 12‑Month Price Target Raised to $129.44, Implies 48% Upside

ITRI reported Q3 revenue of $599.3M, beating estimates, with adjusted EPS of $1.94. Guidance for Q4 revenue was below expectations, but EPS guidance was raised. Recurring revenue and software growth drove margin expansion, while operational discipline offset cost inflation. Bookings grew 20% YoY, with a backlog of $4.3B.

Oppenheimer maintained an Outperform rating and $135 price target for Itron (ITRI) after its Q3 earnings beat. The stock trades at $94.55 with a $4.15B market cap. Itron reported non-GAAP EPS of $1.94, above estimates, and revenue of $599.3M. Analysts expect mid-single-digit topline growth by FY2027, with a consensus Buy rating and targets ranging from $105 to $150.

Needham kept its Buy rating on Itron (ITRI) with a $137 price target, suggesting a 44.9% upside from the Oct 27 close. The firm cited Itron's strong 3Q2026 results, including adjusted EPS of $1.94, and a 25% year-over-year increase in annual recurring revenue, according to the analyst note.

Itron Inc. reported Q3 earnings exceeding expectations, with revenue of $599M and raised full-year profit outlook. Shares rose 7% to $94.50. The company beat EPS estimates by $0.38 and expects annual EPS of $6.72-$6.82. Q4 revenue estimates were below consensus at $621M-$636M. Annual recurring revenue grew 25% to $423M, according to the company.

Itron Inc (ITRI) reported Q3 2026 earnings with record adjusted EBITDA but saw revenue declines in Device and Networked Solutions. Free cash flow dropped to $96M from $96M a year ago. CEO Tom Deitrich highlighted OpenWay Forward as a competitive advantage, while noting potential margin pressures from rising component costs. The gas market opportunity remains uncertain. AI is being deployed across various solutions, and the company sees potential in expanding grid anomaly detection.

Itron, Inc. reported 20% operating income growth on 3% revenue growth in Q3 2026, driven by structural improvements. Annual Recurring Revenue (ARR) grew 25% year-over-year. The company raised its full-year earnings outlook and provided Q4 revenue guidance of $621M-$636M. Management highlighted growth opportunities in gas distribution and Grid Edge Intelligence, with a total backlog of $4.3B.