Ameresco upgraded to Neutral from Sell at Roth MKM

Roth MKM analyst Craig Irwin upgraded Ameresco to Neutral from Sell with a $44 price target. The firm believes the SCE project continues to retain an elevated risk profile, but potential financial charges for liquidated damages should be manageable. The rare miss reported in Q4 2022 was attributed to project delays that will remain an overhang into Q1 2023, and likely limit any major rebound in the stock, Roth MKM says. The firm would look for improved confidence in EBITDA growth before potentially becoming constructive on the stock.