Ardour Capital Upgrades EnerNOC (ENOC) to Accumulate; Stepping Up
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Price: $17.76 -0.95%
Rating Summary:
7 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 23 | New: 29
Rating Summary:
7 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 23 | New: 29
Trade ENOC Now!
Ardour Capital upgraded EnerNOC (NASDAQ: ENOC) from Hold to Accumulate, adjusting price target of $7.50.
Analyst, Brian Greenstein, said, "In 1Q12, ENOC was able to deliver strong margins on C&I customer contracts, add substantial megawatts, and develop new utility relationships. At the end of FY12 we were concerned about replacement of the lost revenue from the FERC ruling. However we are somewhat impressed by recent steps taken by ENOC to generate non-demand response revenue and adjust its business model to adapt to the changing environment. Our price target is based on a DCF valuation, using a conservative 20% discount rate and 8× EBITDA multiple."
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 $5.78 yesterday, with a 52 week range of $5.75-$22.38.
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Analyst, Brian Greenstein, said, "In 1Q12, ENOC was able to deliver strong margins on C&I customer contracts, add substantial megawatts, and develop new utility relationships. At the end of FY12 we were concerned about replacement of the lost revenue from the FERC ruling. However we are somewhat impressed by recent steps taken by ENOC to generate non-demand response revenue and adjust its business model to adapt to the changing environment. Our price target is based on a DCF valuation, using a conservative 20% discount rate and 8× EBITDA multiple."
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 $5.78 yesterday, with a 52 week range of $5.75-$22.38.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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