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Why UBS Gave Itron (ITRI) a Price Target Cut

NEW YORK (TheStreet) -- UBS has cut its price target of Itron (ITRI - Get Report) to $36 from $43, while maintaining a "neutral" rating. 

"We believe investors are increasingly frustrated with the lack of visibility to project timing, along with pricing pressure at Electric," noted analysts in the research report. 

The investment firm also lowered its 2014 EPS to $1.50 from $2.75, "primarily to reflect weaker sales, and further pressure on Electric margins."

Since reporting on Wednesday after the bell, shares have taken off 9.1%. 

Must Read: Why Coca-Cola (KO) Is Down Today

Must Read: Itron (ITRI) Receives Series of Analyst Downgrades After Earnings

TheStreet Ratings team rates ITRON INC as a Hold with a ratings score of C-. The team has this to say about their recommendation:

"We rate ITRON INC (ITRI) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."

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