Ameresco price target raised to $45 from $31 at Roth Capital

Roth Capital raised the firm’s price target on Ameresco (AMRC) to $45 from $31 and keeps a Buy rating on the shares. The firm expects Ameresco to report positive Q3 results with continued backlog growth and also believes that the U.S. Federal Govt shutdown will be a short-term headwind, the analyst tells investors in a research note. Rising electricity costs are a tailwind for ESPC project economics, but the slow moving nature of Ameresco’s projects, combined with general customer budget uncertainty, could constrain any near-term benefit, the firm added.