Canaccord lowered the firm’s price target on Ameresco to $50 from $81 and keeps a Buy rating on the shares. The firm said they are lowering their estimates based on a slower assumed growth trajectory and are lowering our multiple based on multiple deterioration in the company’s comp set. It may take time for management to reestablish credibility, but Canaccord believes the company’s long-term fundamental prospects remain quite healthy.
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Read More on AMRC:
- Ameresco price target lowered to $30 from $50 at Baird
- Ameresco downgraded to Market Perform from Outperform at William Blair
- Ameresco downgraded to Perform from Outperform at Oppenheimer
- Ameresco sees FY23 adjusted EPS $1.15-$1.25, consensus $1.81
- Ameresco reports Q3 adjusted EPS 40c, consensus 48c
