Ameresco Inc. (AMRC) shares plunged 6.53% in the pre-market trading session on Tuesday. The steep decline came after UBS downgraded the stock to a "Sell" rating from a previous "Buy" recommendation, citing downside risks to the company's 2025 outlook.
In a research note, UBS analyst William Grippin slashed the price target on Ameresco to $8, down from $37 previously. The firm expressed concerns over the company's ability to meet its 2025 guidance, citing potential headwinds that could impact its financial performance.
The double downgrade from UBS reflects growing skepticism among analysts regarding Ameresco's growth prospects in the near term. Investors reacted swiftly to the negative rating change, leading to a significant sell-off in the stock's pre-market trading.
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