Ameresco downgraded to Sell from Buy at UBS

UBS double downgraded Ameresco (AMRC) to Sell from Buy with a price target of $8, down from $37. The firm sees downside risk to the company’s 2025 adjusted EBITDA guidance, and potential further downward consensus estimate revisions for 2026 and 2027. The Trump administration is still in the early stages of efforts to streamline the federal government and while the ultimate outcome is unclear, a further deterioration in the contracting environment for Ameresco’s federal projects is highly probable, the analyst tells investors in a research note. UBS says that given the company’s heightened federal uncertainty, the stock’s risk/reward looks unfavorable at this time.