Baird analyst Ben Kallo lowered the firm’s price target on Ameresco to $30 from $50 and keeps an Outperform rating on the shares. The firm said the company Q3 results missed expectations with the company lowering its guidance for Q4 and EBITDA guidance for 2024. Management cited several delays across both Projects and Energy Assets stemming from labor shortages, permitting challenges, supply chain tensions, and administrative hold ups.
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