Deutsche Bank Reiterates EnerNOC Hold, Lowers PT To $19 (ENOC)

Deutsche Bank reiterated its EnerNOC ENOC Hold rating and lowered EnerNOC's price target from $21 to $19 in a research report published today. In the report, Deutsche Bank states, "EnerNOC reported 4Q EPS of -$0.86, $0.04 below the Street's estimate (GMs particularly weak) and provided disappointing 2011 GAAP EPS guidance ($0.25- 0.50 vs Street's $0.68). On a positive note, ENOC provided an upbeat 3-year financial outlook, where the co expects to generate $0.80-1.00 in GAAP EPS in 2013." Shares of EnerNOC were at $18.65 in pre-market trading at the time of posting, down 3.37% from Wednesday's market close.