Oppenheimer Reiterates an 'Outperform' on Ameresco (AMRC); Presidential Memorandum on ESPCs a Positive

Oppenheimer reiterates an 'Outperform' on Ameresco (NYSE: AMRC) price target raised from $15 to $17.

Oppenheimer analyst said, "We met with AMRC's President and CEO George Sakellaris, and CFO Andrew Spence and came away highly encouraged on growth prospects given its pipeline build (solid proposal activity and growing awarded backlog). Incrementally, we believe Obama's Presidential Memorandum (12/2/11) directing Federal agencies to enter into a minimum of $2 billion of ESPCs for federal building energy upgrades over the next two years should be supportive to backlog build and conversion for the foreseeable future. Shares have risen 11% this week in response, and we
anticipate further appreciation on greater growth prospects."

For an analyst ratings summary and ratings history on Ameresco click here. For more ratings news on Ameresco click here.

Shares of Ameresco closed at $12.90 yesterday.

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