B of A Securities Downgrades Ameresco to Neutral, Raises Price Target to $37
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Julien Dumoulin-Smith downgraded Ameresco (NYSE:AMRC) from Buy to Neutral but increased the price target from $29 to $37. The adjustment reflects a more cautious stance on the stock while acknowledging its potential for growth.
December 15, 2023 | 1:19 pm
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NEUTRAL IMPACT
Ameresco was downgraded by B of A Securities from Buy to Neutral, indicating a more conservative outlook, but the price target was raised to $37, suggesting some optimism about the company's future performance.
The downgrade to Neutral suggests that B of A Securities believes Ameresco's stock may not have as much upside potential as previously thought, which could lead to a short-term negative impact on the stock price. However, the increase in the price target to $37 implies that the firm still sees growth potential, which could mitigate any negative sentiment. The net short-term impact is likely to be neutral as the market digests both the downgrade and the increased price target.
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