Wedbush Maintains Bearish Stance on EnerNOC

Wedbush analyst Craig Irwin today maintained an “Underperform” rating on EnerNOC, Inc. (ENOC) with $9.00 price target.

“We rate EnerNOC Underperform in the context of significant regulatory risks to the company’s demand response business. We believe the eventual elimination of market arbitrage and continued deterioration of demand response capacity cleared at PJM capacity auctions are likely to significantly impair the company’s outlook”, Irwin wrote.

According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Craig Irwinhas currently has a one-year average return of -2.3% and a 48% success rate. He is ranked #2724 out of 3112 analysts.

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