Raymond James Downgrades EnerNOC (ENOC) to Market Perform after EPA Surge

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January 16, 2013 7:59 AM EST
Get 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
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Raymond James downgraded EnerNOC (NASDAQ: ENOC) from Outperform to Market Perform, which follows Tuesday's 25% surge on the back of an update on EPA clean air standards.

While the firm remains fans of the EnerNOC story "fundamentally," with a 34% YTD run-up the stock now offers little in the way of near-term upside.

Analyst Pavel Molchanov said the EPA ruling was better than expected, but quantifying the ruling's direct financial impact is far from straightforward.

Molchanov called today's downgrade "tactical" and should not obscure the fact that they remain positive on EnerNOC's underlying fundamentals.



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 $15.76 yesterday.

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