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UPDATE: Oppenheimer Downgrades Ameresco to Perform on Project Deferrals

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Oppenheimer downgraded Ameresco (NYSE: AMRC) from Outperform to Perform and removed its $12.00 price target

Oppenheimer commented, "We are downgrading AMRC shares to Perform from Outperform, as our checks indicate both Federal and MUSH market ESPC activity has not yet increased, and is unlikely to reaccelerate near-term. AMRC's preliminary indication for 2013 expectations suggested double-digit revenue growth is possible assuming 'normal' market conditions. However, we do not expect '13 to fit that bill and instead expect continued pressures on backlog conversion. … While much of this may be priced into shares, we prefer to step to the sidelines absent visibility into a resumption of project activity."

Ameresco closed at $9.84 on Thursday.

Latest Ratings for AMRC

DateFirmActionFromTo
May 2014Canaccord GenuityMaintainsBuy
Mar 2013Canaccord GenuityMaintainsBuy
Feb 2013OppenheimerDowngradesOutperformPerform

View More Analyst Ratings for AMRC
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Downgrades Analyst Ratings

 

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