15 Most Promising Technology Stocks to Buy Now

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9. Itron Inc. (NASDAQ:ITRI)

Number of Hedge Funds: 37

Potential Upside: 34%

Itron Inc. (NASDAQ:ITRI) specializes in energy and water resource management solutions for utilities and cities worldwide. The company offers a comprehensive portfolio of products and services, including smart meters, network communication technologies, and advanced data analytics software. These solutions enable customers to efficiently manage energy and water usage, enhance operational efficiency, and promote sustainability initiatives.

On February 11, Itron Inc. (NASDAQ:ITRI) announced its collaboration with Publiacqua, the primary water supplier for 1.3 million residents in Tuscany, Italy, to upgrade the region’s water distribution network. This modernization effort leverages Itron’s Ultrasonic Intelis water meters, which feature advanced leak detection capabilities to enhance data accuracy and reliability. Through this initiative, Itron continues to drive the global shift toward smart grids and intelligent urban infrastructure, addressing the increasing need for sustainable resource management and improved operational efficiency.

In its most recent update (November 2024), Roth MKM raised its price target for Itron Inc. (NASDAQ:ITRI)’s shares from $125 to $130 while maintaining its rating. The analyst cited Itron Inc. (NASDAQ:ITRI)’s strong backlog visibility as a key advantage, particularly as the company stands to benefit from forthcoming infrastructure investments. According to the analyst, these investments serve as favourable market drivers that could fuel growth, even amid potential short-term fluctuations in project timelines. Additionally, its counter-cyclical positioning was highlighted as a strength, offering resilience in the face of economic and political uncertainties. The company’s stability in volatile conditions makes it an appealing investment option. Both TD Cowen and Canaccord Genuity also reaffirmed their Buy ratings on Itron Inc. (NASDAQ:ITRI) in their respective reports in November.

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