Energy Recovery price target lowered to $12 from $16 at B. Riley

B. Riley lowered the firm’s price target on Energy Recovery (ERII) to $12 from $16 and keeps a Neutral rating on the shares. Energy Recovery’s revenue miss was driven by two Megaprojects, which were identified as “at risk” with Q3 earnings, that slipped to 2026, the analyst tells investors in a research note. The company expressed confidence that it will return to growth in 2027+ as it focuses on its core Water business, the firm notes.