Ameresco price target lowered to $35 from $40 at Raymond James

Raymond James lowered the firm’s price target on Ameresco to $35 from $40 and keeps an Outperform rating on the shares. The analyst says the interest rate spike in Q1 has reignited selling pressure in the renewable energy and clean technology group. While individual company fundamentals can override the macro backdrop, it will be very difficult for the group as a whole to reach Raymond James’ originally forecasted 2024 gain of 20%-30% without some improvement on the macro front, the analyst tells investors in a research note.