Wedbush Reiterates an 'Underperform' on EnerNOC (ENOC) FERC Order 741 Could Have Dire Consequences

Wedbush reiterates an 'Underperform' on EnerNOC (NASDAQ: ENOC) price target cut from $9.00 to $6.00.

Wedbush analysts ays, "PJM’s implementation of FERC Order 741 will most likely severely stress EnerNOC’s credit capacity, requiring a three-fold increase in the SVB cedit facility, a move we view as unlikely given the current technical default...We believe an investigation into Double Counting by the Maryland PSC and suggestions of an informal FERC inquiry will meet legal disclosure threshold to be included in ENOC’s 3Q11 10-Q risks."

For more ratings news on EnerNOC click here and for the rating history of EnerNOC click here.

Shares of EnerNOC closed at $10.97 yesterday.

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