Needham & Company Upgrades EnerNOC (ENOC) to Buy; Healthy PJM Auction Results
Tweet
Share
E-mailGet Alerts ENOC Hot Sheet
Price: $7.65 --0%
Rating Summary:
1 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Needham & Company upgraded EnerNOC (NASDAQ: ENOC) from Hold to Buy with a price target of $7.50.
Analyst, Sean H.K. Hannan, said, "Overall, we do not believe ENOC is another Comverge (now private) as the company has far more substantial scale, prior history of profitability, and healthier overall capitalization. Further, the recent 2015/16 PJM auction results demonstrate to us that the company is still well positioned to participate in capacity markets and demonstrate respectable growth. With the company’s stock down 47% YTD, trading well below book value, and with net cash representing 63%+ of market value (as expected free cash flow remains positive), we believe shares have already bottomed and should become more attractive to long-term investors."
"Our 2012 estimate now $257M & loss of $1.45 (vs. prior $268M & loss of $1.41). Our 2013 estimate now $370M & $0.05 (vs. prior $370M & $0.12)."
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 $5.80 yesterday.
Analyst, Sean H.K. Hannan, said, "Overall, we do not believe ENOC is another Comverge (now private) as the company has far more substantial scale, prior history of profitability, and healthier overall capitalization. Further, the recent 2015/16 PJM auction results demonstrate to us that the company is still well positioned to participate in capacity markets and demonstrate respectable growth. With the company’s stock down 47% YTD, trading well below book value, and with net cash representing 63%+ of market value (as expected free cash flow remains positive), we believe shares have already bottomed and should become more attractive to long-term investors."
"Our 2012 estimate now $257M & loss of $1.45 (vs. prior $268M & loss of $1.41). Our 2013 estimate now $370M & $0.05 (vs. prior $370M & $0.12)."
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 $5.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Coherent (COHR) PT Raised to $420 at Needham
- New Street Research Upgrades Micron Technology (MU) to Buy
- Canaccord Upgrades HLS Therapeutics (HLS:CN) (HLTRF) to Buy
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, UpgradesRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
