EnerNOC upgraded to Overweight from Neutral at JPMorgan JPMorgan upgraded EnerNOC to Overweight as it believes the PJM auction results to be posted on May 23 will show significantly improved pricing. The firm raised its price target for the stock to $24.50 from $21.
EnerNOC downgraded to Neutral from Overweight at JPMorgan JPMorgan downgraded EnerNOC to Neutral citing risk to the company's Demand Response revenue at PJM given the challenge to FERC Rule 745. The firm lowered its price target for shares to $22 from $24.50. JPMorgan notes, however, that it would view EnerNOC shares as "significantly" undervalued should the FERC Rule 745 be upheld or replaced by a capacity market overseen by the regional states.