Ameresco rallies on raised 2026 EPS outlook, data center momentum
AMRC•Data center awards drive backlog growth
The company said about $1.2 billion of new awards booked during the quarter were tied to data center projects; the remainder came from its other business lines, including industrial and commercial customers.
BNP Paribas upgraded AMRC to 'outperform' from 'neutral' and increased its price target by $6 to $40.
This significant, "somewhat surprising" acceleration of data center project traction, even if in early stages, should improve AMRC's valuation from its depressed levels, about 8-9x two-year forward EV/EBITDA, in recent months, BNP Paribas said in a note to clients.
The average rating of 12 brokers covering AMRC is "buy"; median price target $44 - LSEG.
Shares surge after higher earnings outlook
Energy infrastructure firm Ameresco's AMRC.N shares surge 29.7% to $29.47 and are on course for their steepest gain in a year on Tuesday after it raised its full-year earnings forecast and said new awards to project backlog more than tripled from a year ago to $1.8 billion.
AMRC hit a two-month high and is now up about 1% year to date.
Framingham, Massachusetts-based company late Monday posted second-quarter adjusted EPS of 20 cents, 4 cents above the LSEG estimate, and boosted full-year earnings guidance to $1.15-$1.35 from a prior outlook of $1.06-$1.28.
