Wedbush Maintains Outperform Rating For Lime Energy (LIME)

Analysts Craig Irwin and David Giesecke at Wedbush have released an update on Lime Energy (NASDAQ: LIME). The company will report its first-quarter results on Thursday.

Analysts expect Lime Energy to report first-quarter revenue of $11 million. Analysts believe that the strength in the commercial and industrial markets will offset weakness in institutional energy efficiency markets. They also believe that the company has a $30 million backlog gap to fill in order to meet their 2010 revenue estimate of $90 million.

Analysts at Wedbush have reiterated their Outperform rating for Lime Energy. The price target for the company has been maintained at $8.50.