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    Itron (ITRI) Could Be 29% Undervalued On Raised 2026 Outlook

    Simply Wall St·10/29/2026 02:12:51
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    Itron (ITRI) just posted third quarter results that topped earnings and revenue forecasts, paired with record adjusted EBITDA and a higher full year 2026 outlook that leans on growing grid modernization and resiliency demand.

    Itron’s recent earnings beat and raised 2026 guidance have sparked a rebound in the share price, with a 7 day share price return of 8.92% and a 30 day gain of 4.63%, even though the 1 year total shareholder return is down 32.99% and the 3 year and 5 year total shareholder returns are 62.87% and 17.00% respectively. This points to renewed momentum in the short term on the back of new utility collaborations and the upgraded outlook.

    Spot fresh momentum stories like Itron’s among utilities and grid-tech peers by scanning our curated list of 44 power grid technology and infrastructure stocks.

    Itron’s sharp bounce on fresh guidance still leaves the stock well below analyst targets and intrinsic estimates. Is the recent rally a late catch up, or has most of the easy upside already played out before new buyers enter?

    Most Popular Narrative: 29% Undervalued

    Itron’s most followed narrative pegs fair value at $129.60, well above the last close of $92.59. This puts recent share price strength in a wider backlog and margin context.

    Expected acceleration in global demand for smart grid infrastructure and advanced metering solutions driven by electrification, new data center load, and infrastructure buildout continues to underpin Itron’s project pipeline and multi year backlog of US$4.4b, which can support future revenue conversion as deployments progress.

    See why 16 investors see Itron as 29% undervalued.

    Result: Fair Value of $129.60 (UNDERVALUED)

    Still, Itron’s story can break if utility customers continue to extend project timelines or if the current near 40% gross margin proves difficult to maintain.

    Find out about the key risks to this Itron narrative.

    Next Steps

    Mixed signals in the Itron story so far. If you want to move early and base your call on the data, consider the 5 key rewards and 2 important warning signs.

    Looking for more investment ideas beyond Itron?

    You do not need to stop at Itron. Put fresh ideas on your radar by using targeted screeners that surface stocks with the traits you care about most.