Needham & Company Upgrades EnerNOC (ENOC) to Strong Buy
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Needham & Company upgraded EnerNOC (NASDAQ: ENOC) from Buy to Strong Buy with a price target of $28.00.
Analyst Sean K.F. Hannan states, "Overall, we view ENOC to be a solid growth company with a healthy path toward longer-term diversification, margin expansion, improved mix/model components and strong visibility while it enhances its position as the premier global demand response company. As we consider what appear to be irrational fears embedded in the current share price following a relatively recent court ruling and resulting ambiguity, we believe the current valuation represents a notable disconnect versus the merits of the business. Upgrade to Strong Buy."
Shares of EnerNOC closed at $17.24 yesterday.
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