Itron Inc. (NASDAQ:ITRI) is one of the 10 technology stocks offering more than 50% upside.
On May 26, Itron Inc. (NASDAQ:ITRI) announced the expansion of its strategic collaboration with Hunter Water. The purpose of this partnership is to help accelerate the utility’s digital water transformation through its formalized Digital Metering Pilot Program. It uses advanced data tracking to reduce non-revenue water loss and radically improve water network management.
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At the same time, the program makes it possible for consumer-side consumption transparency to boost long-term conservation initiatives. Itron Intelis wSource NB-IoT ultrasonic water meters are specifically integrated as part of the utility’s deployment of a diversified asset mix as a core operational phase. Additionally, these deployed devices will be managed through Temetra, Itron’s cloud-based, multi-vendor, multi-commodity meter data management solution, which is already in use by the utility.
Apart from these recent developments, analyst ratings also indicate promising prospects for the stock. Back on April 29, Roth Capital analyst Chip Moore updated his view of Itron Inc. (NASDAQ:ITRI) after the company reported its first quarter earnings and shared a lower second quarter forecast relative to market consensus. Moore maintained his Buy rating on the shares. He decreased the firm’s price target from $150 to $136, which still results in an upside potential of almost 65%.
Moore noted that due to regulatory issues and complex project timelines, the near-term revenue growth is experiencing a temporary slowdown. The analyst expects that Itron’s shift towards an asset-light model will eventually improve the market sentiment and business margins despite such delays.
Itron Inc. (NASDAQ:ITRI) operates as a tech-based company offering a range of complete solutions to manage water, energy, and smart city functions. Its product portfolio includes communication devices, hardware, and various software products. It also provides analytical services to its clients through statistical modeling, AI, and machine learning.
While we acknowledge the potential of ITRI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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