Canaccord Genuity Maintains a 'Buy' on EnerNOC (ENOC); Near-term Pain Drives Long-term Gain
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Price: $7.65 --0%
Rating Summary:
1 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 14
Rating Summary:
1 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 14
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Canaccord Genuity maintains a 'Buy' on EnerNOC (NASDAQ: ENOC), but lowers price target from $28 to $22.
Canaccord analyst, John Quealy, said, "We maintain our BUY rating as a commitment to platform expansion weighs on profitability near term, but positions the company for accelerating growth in 2013+. While shares are expected to remain volatile off the lowered outlook and upcoming PJM ruling deadline (~November 9), strong contract visibility keeps us constructive right here."
"Our 2011 revenue/GAAP estimates adjust to $281.7M/$(0.49) from $303.0M/$0.30, while 2012 resets to $280.0M/$(0.90) from $325.0M/$0.35. Our 2013 estimates remain $425M/$0.80."
For more ratings news on EnerNOC click here and for the rating history of EnerNOC click here.
Shares of EnerNOC closed at $14.36 yesterday.
Canaccord analyst, John Quealy, said, "We maintain our BUY rating as a commitment to platform expansion weighs on profitability near term, but positions the company for accelerating growth in 2013+. While shares are expected to remain volatile off the lowered outlook and upcoming PJM ruling deadline (~November 9), strong contract visibility keeps us constructive right here."
"Our 2011 revenue/GAAP estimates adjust to $281.7M/$(0.49) from $303.0M/$0.30, while 2012 resets to $280.0M/$(0.90) from $325.0M/$0.35. Our 2013 estimates remain $425M/$0.80."
For more ratings news on EnerNOC click here and for the rating history of EnerNOC click here.
Shares of EnerNOC closed at $14.36 yesterday.
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