UPDATE: Canaccord Genuity Lowers PT on Ameresco After Heavy Exposure to Federal Customers

Conaccord Genuity analyst John Quealy published a report on Ameresco

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