Ameresco price target lowered to $37 from $40 at B. Riley

B. Riley analyst Christopher Souther lowered the firm’s price target on Ameresco to $37 from $40 and keeps a Buy rating on the shares ahead of the Q1 report. With high interest rates and channel dynamics impacting the solar industry, resulting in uncertainty and low visibility around growth, B. Riley continues to advocate for solar/storage ownership models, the analyst tells investors in a research note. The firm views Altus Power (AMPS) and Hannon Armstrong (HASI) as its top ideas for the rest of 2024. These are the best two ways to play the space and have higher growth visibility in a challenging macro environment, the analyst tells investors in a research note.