Stifel raised the firm’s price target on Ameresco (AMRC) to $34 from $32 and keeps a Buy rating on the shares. Shares slid 16% Friday after a Q3 revenue beat was in line and adjusted EBITDA missed, notes the firm, which attributes the weakness to the “Trump Trade” while noting that Ameresco’s business was very strong under the first Trump Administration. The firm, which is “slightly bumping” its 2025 forecast, argues that the weakness creates an “attractive entry point.”
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Read More on AMRC:
- Ameresco, Inc. Reports Strong Q3 2024 Earnings
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- AMRC Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Ameresco awarded $2.9M for collaboration with the RUSA
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