.August 27, 2024 04:55 PM

Baird analysts have reiterated their Outperform rating and $32 price target on Ameresco (NYSE:AMRC), labeling it as a Bullish Fresh Pick leading up to its Q3 reporting date. They anticipate the company’s energy asset additions in 2024 and beyond to boost earnings beyond current projections in the medium to long term. Despite recent delays, such as with the SoCal Edison project, analysts believe this has created a buying opportunity due to investor fatigue. The completion of the SoCal project, slated for late Q3, is seen as a near-term catalyst for the stock.