When we last highlighted PowerSecure International Inc. (NASDAQ:POWR) in early March, we posited that the company's combination of new products focused on high-growth verticals, its record backlog and recent strategic acquisitions could give the stock 40% upside by year end. Happily, POWR reached our $13 price objective much earlier than anticipated, thanks to a couple of great back-to-back quarters and yet another savvy acquisition - the purchase of LED business, Solais Lighting, Inc. Is there more room to run from current levels? We think so.
On April 23rd, PowerSecure announced the company had added $60M to its revenue backlog, almost half of which ($24M) was the direct result of its acquisition of ESCO from Lime Energy....
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