Ameresco PT Lowered to $10.50 (AMRC)
Ameresco (NASDAQ: AMRC) had its target price cut by Canaccord Genuity from $12.00 to $10.50 in a research note issued to investors on Tuesday morning. The firm currently has a buy rating on the stock.
“Market disruption looks to persist in the mid-term (sequester impact), while longer-term trends stay firmly positive (growing backlog, record pipeline). 2013 revenue/net income guidance is set conservatively at $620-670M/$18-22M, factoring continued backlog conversion delays (with improvement starting later in ’13).,” the firm’s analyst wrote.
Shares of Ameresco (NASDAQ: AMRC) opened at 6.70 on Tuesday. Ameresco has a one year low of $6.64 and a one year high of $14.35. The stock’s 50-day moving average is currently $8.42. The company has a market cap of $302.0 million and a P/E ratio of 13.81.
Separately, analysts at Oppenheimer downgraded shares of Ameresco from an outperform rating to a market perform rating in a research note to investors on Friday, February 1st. They now have a $12.00 price target on the stock.
Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Ameresco currently has a consensus rating of Hold and an average target price of $13.17.
Ameresco, Inc. (NASDAQ: AMRC) is a provider of energy efficiency solutions for facilities throughout North America.
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