Guggenheim Starts Ameresco AMRC at Buy
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(Updated - January 29, 2021 6:29 AM EST)
Guggenheim analyst Shahriar Pourreza initiates coverage on Ameresco (NYSE: AMRC) with a Buy rating and a price target of $63.00.
The analyst comments "We are initiating coverage of Ameresco, Inc. (NYSE: AMRC) with a BUY rating and $63 PT based on our bullish view on the continued growth of the energy services industry and demand for DG and RNG assets. The company straddles a unique position in the energy ecosystem, with a very strong decarbonization profile (EE and renewables) and defensive niche in the development of smaller clean energy assets. We believe these factors contribute to durable visibility into future earnings, with strong FCFs from the services business reinvested into the higher margin asset segment – fueling AMRC’s ongoing growth."
Shares of Apartment Income REIT Corp closed at $38.41 yesterday.
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