Canaccord Adams reiterated its Buy rating and $40 price target on EnerNOC (ENOC) this morning. Hat tip to Street Insider for the following analyst comment:
“With Street interest in the auction results elevated given the industry significance of the PJM market (currently ~50% of revenues), last Friday’s data reinforces our thesis of strong, secular growth in the demand response (DR) market, along with EnerNOC’s leadership position appearing … Read the rest
EnerNOC just signed a 40MW demand response agreement with Tucson Power. Under the agreement, EnerNOC will use its DemandSMART application to provide up to 40MW of demand response capacity for commercial, institutional, and industrial facilities located in Tucson Electric Power’s service area. Customers will be able to monitor their energy use and will receive payments from EnerNOC in return for allowing EnerNOC to manage their sites energy performance from its Network Operations Center.
Wedbush Morgan initiated coverage on EnerNOC (ENOC) this morning with a Neutral rating and price target of $25. Hat tip to Street Insider for the analyst comment.
“Demand response is undergoing rapid market evolution, with significant changes to contract and auction procedures, which could both positively and negatively impact the outlook. Slow traction in EnerNOC’s energy management business after allocation of significant resources raises valid questions about the company’s ability to serve this market, or … Read the rest
A few analyst notes to tell you about this morning on EnerNOC (ENOC) which reported earnings last night and Evergreen (ESLR) which reported uninspiring results two days ago. Clearly, these companies are heading in opposite directions and the analysts agree. Hat tip to Street Insider for the following analyst comments.
Both UBS and Citi maintain their Sell ratings on ESLR. UBS lowered the price target to below a buck at .90 and the FY10 EPS … Read the rest
EnerNOC (ENOC) reported results after the bell that were stronger than Wall St forecasts. The company posted a narrower loss of .41/share vs the estimate of .69/share loss on revenues of $28.1 million which beat estimates by about $2 million. That’s a nice beat and considerably better than the year ago quarter when the company posted a loss of .48/share. Revenues increased 53% over the year ago quarter. I’m not sure the results were strong … Read the rest
It’s always a real challenge to keep up during earnings season and I burned out a bit by Friday. I’ve got a bit of catching up to do today and I start with Friday’s analyst alerts. Hat tip to Street Insider for the analyst comments.
A couple calls on Rubicon Technology (RBCN), the emerging LED play, following its earnings report last week…
Canaccord Adams reiterated a Buy and raised the price target from $30 … Read the rest
Brean Murray is out with a bullish call on the smart grid sector this morning and believes that with healthcare reform out of the way, the government will return its attention back to energy and energy efficiency. Hat tip to Street Insider for the following analyst comment.
“…With (Fed’s) funding checks expected by the second half of 2010 accelerating smart grid deployment projects, and an expectation for increased federal attention back toward energy and efficiency … Read the rest
EnerNOC (ENOC) is doing a bit of shopping and has acquired Colorado based SmallFoot LLC to target the smaller scale commercial demand response market. Integrating SmallFoot’s technology will help EnerNOC reduct DemandSMART deployment costs at these sites and help open up new opportunities.
Smart move from ENOC. Small commercial sites make up 90% of facilities and consume 40% of the power according to the Energy Info Administration. … Read the rest
EnerNOC (ENOC) and Pacific Gas & Electric are joining forces to increase the energy efficiency of PG&E’s commercial and institutional customers. The 3 year deal will provide PG&E customers with EnerNOC’s SiteSMART smart grid application in Northern and Central California. The SiteSMART app combines advanced metering technology with data analysis software to provide insight into energy usage that EnerNOC can then use to make energy efficiency recommendations and provide a more comfortable environment in extreme … Read the rest
EnerNOC just announced that two of its products have won 2009 Smart Grid Product of the Year Awards from Technology Marketing Corporation and Intelligent Communications Partners.Both its PowerTrak(R) web-based energy management application and its Monitoring-Based Commissioning (MBCx) data-driven energy efficiency application eon awards this year.
In a press release, Gregg Dixon, Senior Vice President of Marketing, EnerNOC, commented on the news:
“Today, most of the discussion around the smart grid is focused on advanced meters … Read the rest
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