In a report released today, Noah Kaye from Oppenheimer maintained a Buy rating on Ameresco Inc (NYSE: AMRC), with a price target of $13. The company’s shares closed yesterday at $11.60.
Kaye said:
“For the past few quarters, AMRC has been a story of (1) improving execution in the project business and (2) growth in recurring energy/O&M, which represent more than two-thirds of consolidated EBITDA. The story remained intact in 1Q18 as AMRC beat top/bottom line consensus on strength across all segments (notably US Regions) and raised FY18 adj. EPS guidance 8% above the Street at midpoint. Long-term growth visibility continues to improve, as project backlog grew 15% to $1.9B and contracted lifetime energy/O&M revenues grew to $1.6B. We introduce our FY19 estimates and raise our price target to $13 (from $11).”
According to TipRanks.com, Kaye is a 4-star analyst with an average return of 4.8% and a 45.5% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as BorgWarner, Cummins, and EnerSys.
Currently, the analyst consensus on Ameresco Inc is Strong Buy and the average price target is $13.17, representing a 13.5% upside.
In a report issued on April 26, Canaccord Genuity also assigned a Buy rating to the stock with a $13.50 price target.
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Ameresco Inc’s market cap is currently $528.2M and has a P/E ratio of 13.98. The company has a book value ratio of 1.5691.
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Ameresco, Inc. provides comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, and Small-Scale Infrastructure. The U.S. Regions, U.S.
