Canaccord Genuity Raises Price Target on EnerNOC (ENOC) After Presenting at Global Growth Conference

August 20, 2012 8:55 AM EDT Send to a Friend
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Price: $17.53 -2.18%

Rating Summary:
    6 Buy, 10 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 43 | Down: 33 | New: 14
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Canaccord Genuity maintains a 'Buy' on EnerNOC (NASDAQ: ENOC) price target of $14.00 (from $11.50)

Analyst, John Quealy, said, "After a very tough TTM for shares, visibility is clearly improving into 2013, as order flow and margins outperform and a return to execution is the focus. Valuation looks very compelling, in our view, even as contracted PJM prices rise ~80% over the next three years."

"Conference: In short, visibility on margins and revenues is very strong, with ~$1.6B in future contracted revenues (~90% to be recognized before May 2016). We expect the potential for further margin benefits to become visible during H2/12."

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

Shares of EnerNOC closed at $9.86 yesterday.




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