UPDATE: Canaccord Genuity Lowers PT on Ameresco After Heavy Exposure to Federal Customers
Conaccord Genuity analyst John Quealy published a report on Ameresco (NYSE: AMRC) that lowered it's price target from $12 to $10.50 and maintained a Buy rating due to heavy exposure to Federal customers.
In the report, Canaccord said, "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)."
Ameresco closed Monday at $7.55
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.