Analysts Offer Insights on Technology Companies: Itron (NASDAQ: ITRI), Amdocs (NASDAQ: DOX) and CSRA Inc (NYSE: CSRA)

By Austin Angelo

Analysts have been eager to weigh in on the Technology sector with new ratings on Itron (NASDAQ: ITRI), Amdocs (NASDAQ: DOX) and CSRA Inc (NYSE: CSRA).

Itron (NASDAQ: ITRI)

Oppenheimer analyst Noah Kaye reiterated a Buy rating on Itron (NASDAQ: ITRI) today and set a price target of $71. The company’s shares closed last Friday at $65.40, close to its 52-week high of $67.45.

Kaye wrote:

“We recently marketed with ITRI CEO Philip Mezey and VP of IR Barbara Doyle. Investor meetings supported our view that ITRI’s “predictability, profitability, growth” focus is translating to an improved playbook for generating shareholder value while navigating the metering industry’s sales cycle and evolving utility customer needs. We see solid momentum for ITRI’s project business and longer term upside for margins from manufacturing/supply chain optimization and increased software mix. The roadmap to $500M in software/services revenues includes greater acquisitiveness (Comverge a solid beginning), upselling ITRI’s edge-intelligent network for services other than revenue cycle management, and greater emphasis on recurring revenues.”

According to TipRanks.com, Kaye is a 3-star analyst with an average return of 2.9% and a 51.1% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation Inc, Waste Connections Inc, and Republic Services.

Currently, the analyst consensus on Itron is Strong Buy and the average price target is $73, representing an 11.6% upside.

In a report issued on May 8, Canaccord Genuity also reiterated a Buy rating on the stock with a $72 price target.
Amdocs (NASDAQ: DOX)

Oppenheimer analyst Shaul Eyal reiterated a Buy rating on Amdocs (NASDAQ: DOX) today and set a price target of $70. The company’s shares closed last Friday at $63.97, close to its 52-week high of $64.32.

Eyal observed:

“Following our recent participation in investor meetings in Europe with DOX management, our sense is that DOX is experiencing healthy demand trends in its core business, and we believe that over the longer term network functions virtualization (NFV) could represent a significant market opportunity. DOX has assembled a capable team of coders and security experts providing robust capabilities to solve software-defined network (SDN) complexities that its telco and cable customers are likely to face. We believe that, over the longer term, the gradual adoption of NFV technologies could become a lever to power higher growth and expanded margins for the company.”

According to TipRanks.com, Eyal is a top 100 analyst with an average return of 12.1% and a 65.7% success rate. Eyal covers the Technology sector, focusing on stocks such as CSG Systems International, Nuance Communications, and IAC/InterActiveCorp.

Amdocs has an analyst consensus of Moderate Buy, with a price target consensus of $65.67.

CSRA Inc (NYSE: CSRA)

Cowen & Co. analyst Gautam Khanna reiterated a Hold rating on CSRA Inc (NYSE: CSRA) today and set a price target of $32. The company’s shares closed last Friday at $28.75.

Khanna noted:

“We are updating our F17+ estimates to conform to CSRA’s new adjusted earnings.”

According to TipRanks.com, Khanna is a 4-star analyst with an average return of 8.6% and a 67.3% success rate. Khanna covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Allegheny Technologies.

CSRA Inc has an analyst consensus of Moderate Buy, with a price target consensus of $35.20.

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