UPDATE: Lake Street Capital Raises PT on PowerSecure International on Strong Q4 Momentum

In a report published Friday, Lake Street Capital Markets reiterated its Buy rating on PowerSecure International POWR, and slightly raised its price target from $13.00 to $14.00. Lake Street Capital Markets noted, “PowerSecure saw strong momentum in Q4 in both the Distributed Generation (DG) and Utility Infrastructure (UI) segments, as revenue grew 27% and 40% YoY, respectively. Although the LED business was somewhat disappointing in the quarter as grocery chains suspended capital spending, it increased to $25 million in 2012 from $23 million in 2011. Lastly, the acquisition of Lime Energy's LIME energy services company (ESCO) support business looks to be a game-changer that can accelerate growth in the DG and LED lighting businesses. We believe PowerSecure has built a unique position in strong growth markets that should help drive revenue growth of roughly a 20%-25% CAGR.” PowerSecure International closed on Thursday at $9.06.