Rodman & Renshaw Initiates Coverage On Lime Energy With Market Perform Rating

According to Rodman & Renshaw, Lime Energy

coverage is initiated with a Market Perform rating. Rodman & Renshaw said that its market perform rating is based on our belief that investors may have a better opportunity to enter the stock with a lower risk profile in the future. “Currently the stock is trading at over 20x our 2012 EBITDA estimate of $4m. For our estimates to be met, Lime needs to reverse the recent GM decline, achieve stated cost savings from the recent restructuring and deliver on the strong top-line projections we've modeled.” Lime Energy closed yesterday at $3.38.