Canaccord Genuity Green Building Semimonthly: EU's Energy Efficiency Movement Offer Growth Opportunities For Several Names
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Rating Summary:
10 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 6 | New: 33
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Canaccord Genuity Green Building Semimonthly by analysts Eric Prouty and Eric Glover.
Canaccord's analysts said, "The EU’s increased commitment to achieve a 20% improvement in energy efficiency by 2020 offers important growth opportunities for several of our Green Building/Energy Efficiency names under coverage. We specifically highlight:
Jones Lang LaSalle (NYSE: JLL) (BUY-rated) – JLL is one of the world’s leading providers of real estate services. Approximately 15% of the firm’s total revenue last year was generated from Continental Europe. The company has a strong and growing business devoted to green building/energy efficiency services.
ICF International (Nasdaq: ICFI) (BUY-rated) – Although ICF’s business in Europe represents a small (<10%) portion of total revenue currently, there is significant opportunity for growth here, in our view. Europe is at the forefront of issues such as climate change and energy efficiency, both of which represent key areas of expertise for ICF.
Ameresco (NYSE: AMRC) (BUY-rated) – Ameresco is a leading provider of energy efficiency and renewable energy services in the US, but the company does have a nascent presence in Europe. The drive for higher energy efficiency and shift toward renewable energy in Europe provide AMRC with a significant and timely opportunity for international growth, in our view.
Interface (Nasdaq: IFSIA) (HOLD) – Interface generated 28% of its net sales in
Europe last year, and we conclude the Commission’s proposal to accelerate the refurbishment of buildings in the EU should increase demand for broadloom carpet and carpet tile. We note that Interface is well-known among architects and designers for its green products and comprehensive approach to sustainability.
Echelon (Nasdaq: ELON) (HOLD) – In Europe, Echelon should benefit from a shift toward street light networking, smart metering networks. In addition, the firm’s building energy management solution enables building owners/operators to monitor, analyze and reduce energy consumption.
EnerNOC (Nasdaq: ENOC) (BUY-rated) – EnerNOC develops and implements demand response and energy management solutions for electric power grid operators and utilities, as well as commercial and industrial users of electricity. The company has already built out an initial UK presence, with continental plans taking shape currently.
Itron (Nasdaq: ITRI) (BUY-rated) – Itron is a leading provider of utility technology across the electric, gas and water markets, which include Smart Meters and related software applications. Historically the company has generated approximately 60% of its revenue from Europe.
Telvent (Nasdaq: TLVT) (BUY-rated) – Based in Spain, Telvent offers a variety of measurement and monitoring-based networks to infrastructure, technology and agricultural markets. The company has provided energy efficiency services for large retail operations.
Canaccord's analysts said, "The EU’s increased commitment to achieve a 20% improvement in energy efficiency by 2020 offers important growth opportunities for several of our Green Building/Energy Efficiency names under coverage. We specifically highlight:
Jones Lang LaSalle (NYSE: JLL) (BUY-rated) – JLL is one of the world’s leading providers of real estate services. Approximately 15% of the firm’s total revenue last year was generated from Continental Europe. The company has a strong and growing business devoted to green building/energy efficiency services.
ICF International (Nasdaq: ICFI) (BUY-rated) – Although ICF’s business in Europe represents a small (<10%) portion of total revenue currently, there is significant opportunity for growth here, in our view. Europe is at the forefront of issues such as climate change and energy efficiency, both of which represent key areas of expertise for ICF.
Ameresco (NYSE: AMRC) (BUY-rated) – Ameresco is a leading provider of energy efficiency and renewable energy services in the US, but the company does have a nascent presence in Europe. The drive for higher energy efficiency and shift toward renewable energy in Europe provide AMRC with a significant and timely opportunity for international growth, in our view.
Interface (Nasdaq: IFSIA) (HOLD) – Interface generated 28% of its net sales in
Europe last year, and we conclude the Commission’s proposal to accelerate the refurbishment of buildings in the EU should increase demand for broadloom carpet and carpet tile. We note that Interface is well-known among architects and designers for its green products and comprehensive approach to sustainability.
Echelon (Nasdaq: ELON) (HOLD) – In Europe, Echelon should benefit from a shift toward street light networking, smart metering networks. In addition, the firm’s building energy management solution enables building owners/operators to monitor, analyze and reduce energy consumption.
EnerNOC (Nasdaq: ENOC) (BUY-rated) – EnerNOC develops and implements demand response and energy management solutions for electric power grid operators and utilities, as well as commercial and industrial users of electricity. The company has already built out an initial UK presence, with continental plans taking shape currently.
Itron (Nasdaq: ITRI) (BUY-rated) – Itron is a leading provider of utility technology across the electric, gas and water markets, which include Smart Meters and related software applications. Historically the company has generated approximately 60% of its revenue from Europe.
Telvent (Nasdaq: TLVT) (BUY-rated) – Based in Spain, Telvent offers a variety of measurement and monitoring-based networks to infrastructure, technology and agricultural markets. The company has provided energy efficiency services for large retail operations.
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