PowerSecure (POWR) PT Slashed at Baird; 'Outperform' Maintained

Baird analyst Ben Kallo slashed his price target on PowerSecure (NASDAQ: POWR) to $17.00 (from $29.00) following weak Q1 results but maintained a Outperform rating.

Kallo commented, "POWR missed estimates across the board and issued lower-than-expected 2014 guidance due to several factors. Additionally, POWR expects a decrease in UI margins driven by operational challenges in a new territory. We think the stock will likely come under pressure as the market digests the 2014 outlook, but we currently believe the long-term business prospects remain intact."

The firm cut FY 2014 EPS from $0.65 to ($0.39) and FY 2015 EPS from $1.15 to $0.34.

For an analyst ratings summary and ratings history on PowerSecure click here. For more ratings news on PowerSecure click here.

Shares of PowerSecure closed at $15.31 yesterday.

You May Also Be Interested In

• Nomura/Instinet Upgrades SK Innovation Co Ltd (096770:KS) to Neutral
• BofA Securities Downgrades SailPoint Technologies Holdings (SAIL) to Neutral
• Piper Sandler Assumes Medallion Financial (MFIN) at Neutral