Avondale Cuts EnergySolutions (ES) to Market Perform

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Avondale Partners' Daniel Mannes downgraded shares of EnergySolutions (NYSE: ES) Tuesday afternoon following Monday's lowered FY12 EBITDA outlook and the resulting 54 percent nosedive in the stock.

Mannes downgraded EnergySolutions shares from Market Outperform to Market Perform and reduced his price target from $8 to $3.

With EnergySolutions shares up 5.5 percent to $1.70 at last check, Mannes' new price target represents potential upside of about 76 percent (despite the equivalent of a Hold rating).

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

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