Itron, Inc. (ITRI) stock forecast and price target

Management's ability to "raise guidance" can often be a catalyst for market-beating returns in the quarters ahead. The third-quarter earnings season is wrapping up, with blended earnings (actual results and the consensus for those still to report) showing a 6.3% gain, year-over-year, according to Refinitiv. That is considerably better than the 1.0% expected at the start of the earnings period, and should be enough to end the "earnings recession" that investors have endured over the past three quarters. Propelling the 3Q outperformance were strong gains in Communication Services, up 46%, while Energy again (like last quarter) is performing the worst, down 33%. Our analysts are always on the lookout for companies that boost their outlooks during earnings season. Here is an initial list of BUY-rated companies in Argus Coverage at which management raised guidance or increased its outlook during the 3Q23 EPS reporting season.

Monday Tee Up: Nvidia

Small- and mid-cap stocks (SMID) have underperformed large-caps over the past 12 months, but may be in a better position to generate market-beating returns going forward. SMID companies tend to focus on domestic markets, so their businesses could be less disrupted by the fallout from the Russian invasion of Ukraine, high European inflation or other geopolitical developments. As well, the prices of SMID stocks generally are lower than the prices of large-caps. SMID stocks can be risky, but diversified investors look to have exposure to small- and mid-caps based on the long-term performance record. We estimate that 12%-15% of the U.S. stock market's capitalization is comprised of SMID stocks. For our purposes, we use a threshold of $20 billion to define a SMID stock.

Stocks fell sharply on Thursday, extending their recent losses. Investors weighed strong earnings from Walmart and Cisco, along with news that Blue Shield of California would drop CVS Health as its pharmacy benefit manager and begin working with Amazon in order to cut costs. CVS shares fell sharply, as did the shares of other health insurers that provide PBM services. On the employment front, first-time claims for state unemployment benefits fell by 11,000 to a seasonally adjusted 239,000 for the week ended August 12, slightly below the Reuters consensus forecast of 240,000. Continuing claims rose by 32,000 to 1.716 million. The Dow fell 0.84%, the S&P 0.77%, and the Nasdaq 1.17%. Crude oil rose slightly to $80 per barrel, while gold fell $9 to $1919 per ounce.

Monday Tee Up: Inflation, GDP, Costco

Stocks reversed their losses amid a Wall Street article that implied that some buyers are considering buying First Republic. Meanwhile, the European Central Bank raised its deposit rate from 2.5% to 3% while stating that inflation is projected to remain too high for too long. On the positive side, new economic data surpassed expectations with initial claims dropping from 212,000 to 192,000 claims while housing starts and building permits both rose more than projected to 1.45 million and 1.52 million respectively. The Dow rose 0.6%, the S&P 1.2%, and the Nasdaq 1.8%. Crude oil traded near $67 per barrel, while gold fell $93 to $1921 per ounce.

Calm Mid-Term Elections, CPI Lift Stocks

After a huge improvement from mid-July until mid-August, breadth has deteriorated in the second half of August. We saw plenty of breadth thrusts off the June low, so this can be quite common. As we said recently, if the initial rally since mid-June was wave one of a new bull market, wave twos can be nasty. What this does is reset sentiment before the typically much-calmer and more-consistent wave three starts.

Stocks rallied on Friday morning, paring some of their recent sharp losses. However, the major indices were still on track for their sixth straight weekly decline amid continued concerns about inflation and the Fed's ability to control it. In an NPR interview on Thursday, Fed Chair Jerome Powell reiterated that the central bank would likely raise interest rates by 50 basis points at each of its next two meetings, but that it was 'prepared to do more' if the data warranted. The Dow rose 1.4%, the S&P 2.1%, and the Nasdaq 3.6%. Crude oil rose $4 to $110 per barrel, while gold traded near $1813 per ounce.

Stocks rallied on Friday morning, paring some of their recent sharp losses. However, the major indices were still on track for their sixth straight weekly decline amid continued concerns about inflation and the Fed's ability to control it. In an NPR interview on Thursday, Fed Chair Jerome Powell reiterated that the central bank would likely raise interest rates by 50 basis points at each of its next two meetings, but that it was 'prepared to do more' if the data warranted. The Dow rose 1.4%, the S&P 2.1%, and the Nasdaq 3.6%. Crude oil rose $4 to $110 per barrel, while gold traded near $1813 per ounce.

The overall Insider Index from Vickers Stock Research continues to reflect improving sentiment among corporate executives, directors, and beneficial owners. The index reading this week (at -12.45) solidifies a stance within the neutral zone that runs from +5.00 to -14.00.

The stock market moved lower last week as the Fed accelerated QE and Omicron cases surged. Blue chips outperformed tech stocks by a sizeable margin as investors were in a risk-off mode on every day except Friday. During Friday's session, the Dow Jones Industrial Average fell 532 points, or 1.48%. The S&P 500 was down 1.03%, and the Nasdaq Composite was down 0.07%. For the week, the DJIA was down 606 points, or 1.68%, the S&P 500 was down 1.94%, and the Nasdaq Composite was down 2.95%. Year-to-date, the DJIA is up 15.55%, the S&P 500 is up 23.02%, and the Nasdaq Composite is up 17.70%.

The stock market inched lower last week, as Tech stocks underperformed blue chips, though both were off. During Friday's session, the Dow Jones Industrial Average fell 166 points, or 0.48%. The S&P 500 was down 0.91%, and the Nasdaq Composite was also down 0.91%. For the week, the DJIA was down 23 points, or 0.07%, the S&P 500 was down 0.57%, and the Nasdaq Composite was down 0.47%. Year-to-date, the DJIA is up 13.00%, the S&P 500 is up 18.02%, and the Nasdaq Composite is up 16.73%.

In the early months of 2021, we detailed overall insider sentiment that was more bearish than we like to see, but not so bearish that we were calling for a meaningful correction. The bearishness was broad-based, but led by cautionary trading from insiders at companies that list on the Nasdaq (often technology firms).

The U.S. economy added 916,000 jobs in March, ahead of expectations, and the unemployment rate dropped to 6.0%. The industry with the most jobs growth was leisure and hospitality, while sectors such as public and private education, construction, manufacturing and professional and business services also added jobs. The labor market continues to reflect the impact of the pandemic, as the shape and character of the workforce is changing as the economy recovers. The current number of jobs is 8.4 million lower than the pre-COVID (February 2020) level. The labor force participation rate remains a low 61.5%, compared to the historical average of 65%. Last month, 21% of employed persons teleworked because of the pandemic. The Labor Department recently reported that another 719,000 people filed initial unemployment claims, and the total of continuous claims was 4.0 million, down from 4.4 million a month ago. Though trending in the right direction, this data indicates that the employment environment remains under stress. We expect the unemployment rate will remain high above 5.0% -- and the Federal Reserve will keep interest rates low -- into 2022.

Blue Chips finished the 2/26/2021 week with more selling, although the hardest-hit part of the market (Nasdaq growth stocks) staged a feeble rebound on Friday. The market is not in freefall, but the S&P 500 is down 3.2% from its all-time high of 3,935 reached on 2/12/21. Pullbacks and corrections are commonplace, but this one feels different because of the trend in long rates. Still, investors always say 'this one feels different' until it's forgotten in the next pullback.

Review and Outlook into Year-End 2020

The S&P 500 opened the second full trading week of August with a slight push higher to the 3,355 range. That left the index less than one percentage point below its all-time closing high of 3.386.15, set on 2/19/20. At that time, COVID-19 was a worsening concern, not the overwhelming global catastrophe that it has become.

The S&P 500 opened the second full trading week of August with a slight push higher to the 3,355 range. That left the index less than one percentage point below its all-time closing high of 3.386.15, set on 2/19/20. At that time, COVID-19 was a worsening concern, not the overwhelming global catastrophe that it has become.

Technology has been the leading sector in 2020, which continues a multi-year pattern and also reflects new inputs. The iShares Technology ETF (IYW) is up 4.6% year-to-date, while the S&P 500 is down 9.3% and the DJIA is off 14.7%.

Technology has been the leading sector in 2020, which continues a multi-year pattern and also reflects new inputs. The iShares Technology ETF (IYW) is up 4.6% year-to-date, while the S&P 500 is down 9.3% and the DJIA is off 14.7%.

Navigating a New Reality

Navigating a New Reality

The S&P 500 opened the second full trading week of August with a slight push higher to the 3,355 range. That left the index less than one percentage point below its all-time closing high of 3.386.15, set on 2/19/20. At that time, COVID-19 was a worsening concern, not the overwhelming global catastrophe that it has become.

Technology has been the leading sector in 2020, which continues a multi-year pattern and also reflects new inputs. The iShares Technology ETF (IYW) is up 4.6% year-to-date, while the S&P 500 is down 9.3% and the DJIA is off 14.7%.

Navigating a New Reality

Stocks wrapped a better-than-average October and then extended the magic one more day. The 11/1/19 rally got November off to a positive start, In fact, the index gathered in a single session more than half the monthly average gain for November, which is 1.7% since 1980.

Stocks wrapped a better-than-average October and then extended the magic one more day. The 11/1/19 rally got November off to a positive start, In fact, the index gathered in a single session more than half the monthly average gain for November, which is 1.7% since 1980.

Despite political fighting, economic worries, plunging yields, yield-curve inversions, negative global yields, worries that the Fed is too tight, concerns over corporate profits, massive debt, trade, weak global growth, and global warming...the advance decline (AD) line of the S&P 500 could very well hit an all-time high (ATH). It makes you wonder what matters and doesn't matter to the stock market.

Despite political fighting, economic worries, plunging yields, yield-curve inversions, negative global yields, worries that the Fed is too tight, concerns over corporate profits, massive debt, trade, weak global growth, and global warming...the advance decline (AD) line of the S&P 500 could very well hit an all-time high (ATH). It makes you wonder what matters and doesn't matter to the stock market.

Stocks finished mixed on Thursday as investors weighed new retail sales and manufacturing data amid continued trade war concerns. China vowed to retaliate against the latest round of U.S. tariffs, but also called on the U.S. to meet it halfway in an effort to resolve the dispute. However, President Trump said that any deal would have to be 'on our terms.' Meanwhile, the Commerce Department reported better-than-expected July retail sales, while the Federal Reserve said that U.S. manufacturing production fell a greater-than-projected 0.4% last month. On the earnings front, Walmart shares rose more than 6% after the company posted strong 2Q comp sales and raised its full-year guidance. The Dow rose 0.39%, the S&P rose 0.25%, and the Nasdaq fell 0.09%. Crude oil fell more than 1% to about $54.50 per barrel, while gold rose $7 to $1535 per ounce.

Stocks finished mixed on Thursday as investors weighed new retail sales and manufacturing data amid continued trade war concerns. China vowed to retaliate against the latest round of U.S. tariffs, but also called on the U.S. to meet it halfway in an effort to resolve the dispute. However, President Trump said that any deal would have to be 'on our terms.' Meanwhile, the Commerce Department reported better-than-expected July retail sales, while the Federal Reserve said that U.S. manufacturing production fell a greater-than-projected 0.4% last month. On the earnings front, Walmart shares rose more than 6% after the company posted strong 2Q comp sales and raised its full-year guidance. The Dow rose 0.39%, the S&P rose 0.25%, and the Nasdaq fell 0.09%. Crude oil fell more than 1% to about $54.50 per barrel, while gold rose $7 to $1535 per ounce.

Trade Turbulence Tosses Bull Market off Course

Trade Turbulence Tosses Bull Market off Course

Stocks rallied on Friday, with the Dow Jones Industrial Average climbing 0.4%, the Nasdaq Composite adding 0.8%, and the S&P 500 rising by 0.7%. For the week, the Dow was flat, while the Nasdaq was up 0.9% and the S&P 500 rose 0.4%. Year-to-date gains are now 11.6% for the Dow, 14.5% for the Nasdaq and 11.8% for the S&P 500.

Stocks rallied on Friday, with the Dow Jones Industrial Average climbing 0.4%, the Nasdaq Composite adding 0.8%, and the S&P 500 rising by 0.7%. For the week, the Dow was flat, while the Nasdaq was up 0.9% and the S&P 500 rose 0.4%. Year-to-date gains are now 11.6% for the Dow, 14.5% for the Nasdaq and 11.8% for the S&P 500.

Stocks rallied on Friday, with the Dow Jones Industrial Average climbing 0.4%, the Nasdaq Composite adding 0.8%, and the S&P 500 rising by 0.7%. For the week, the Dow was flat, while the Nasdaq was up 0.9% and the S&P 500 rose 0.4%. Year-to-date gains are now 11.6% for the Dow, 14.5% for the Nasdaq and 11.8% for the S&P 500.

Despite political fighting, economic worries, plunging yields, yield-curve inversions, negative global yields, worries that the Fed is too tight, concerns over corporate profits, massive debt, trade, weak global growth, and global warming...the advance decline (AD) line of the S&P 500 could very well hit an all-time high (ATH). It makes you wonder what matters and doesn't matter to the stock market.

Stocks finished mixed on Thursday as investors weighed new retail sales and manufacturing data amid continued trade war concerns. China vowed to retaliate against the latest round of U.S. tariffs, but also called on the U.S. to meet it halfway in an effort to resolve the dispute. However, President Trump said that any deal would have to be 'on our terms.' Meanwhile, the Commerce Department reported better-than-expected July retail sales, while the Federal Reserve said that U.S. manufacturing production fell a greater-than-projected 0.4% last month. On the earnings front, Walmart shares rose more than 6% after the company posted strong 2Q comp sales and raised its full-year guidance. The Dow rose 0.39%, the S&P rose 0.25%, and the Nasdaq fell 0.09%. Crude oil fell more than 1% to about $54.50 per barrel, while gold rose $7 to $1535 per ounce.

Trade Turbulence Tosses Bull Market off Course

Stocks rallied on Friday, with the Dow Jones Industrial Average climbing 0.4%, the Nasdaq Composite adding 0.8%, and the S&P 500 rising by 0.7%. For the week, the Dow was flat, while the Nasdaq was up 0.9% and the S&P 500 rose 0.4%. Year-to-date gains are now 11.6% for the Dow, 14.5% for the Nasdaq and 11.8% for the S&P 500.

Trying to Right the Ship: Our Monthly Survey of the Economy, Interest Rates, and Markets

Trying to Right the Ship: Our Monthly Survey of the Economy, Interest Rates, and Markets

Stocks wrapped a better-than-average October and then extended the magic one more day. The 11/1/19 rally got November off to a positive start, In fact, the index gathered in a single session more than half the monthly average gain for November, which is 1.7% since 1980.

Trying to Right the Ship: Our Monthly Survey of the Economy, Interest Rates, and Markets