EnerNOC (ENOC) Bulls Gets More Sanguine

EnerNOC (NASDAQ: ENOC) is mildly higher Friday following bullish commentary from analysts at Needham & Company. The firm reiterated its Buy rating and raised its price target from $19 to $21 after another contract win.

"Over the past 10 months, ENOC has re-established itself as a powerful come-back story. Despite PJM or regulatory-related noise almost constantly emerging (worth monitoring for nuisance risks, in our view, but far from a death knell), ENOC continues to march forward, build and execute on a solid growth business driven by increasing competitive advantages and aided by scale and brand recognition," analyst Sean K.F. Hannan states. "Today, we believe ENOC is well positioned to continue to reap the benefits of many prior strategic acquisitions such as M2M that were previously questioned by some but that now appear to be becoming validated."

For an analyst ratings summary and ratings history on EnerNOC click here. For more ratings news on EnerNOC click here.

Shares of EnerNOC closed at $17.66 yesterday.

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