2011 Will Be Lime Energy's (NASDAQ:LIME) Breakout Year Says Canaccord

According to Canaccord Genuity, they see 2011 being a breakout year for Lime Energy (NASDAQ:LIME).

Canaccord says, "Our industry research suggests demand for energy efficiency (EE) services remains strong as corporations and other organizations seek to quickly and permanently reduce facility operating expenses. In our view, Lime continues to garner its fair share of business, which should be reflected in steadily improving results this year. We forecast that 2012 will mark the firm’s “breakout” year, highlighted by full-year profitability in adjusted EBITDA and EPS."

Canaccord Genuity reiterates a "Speculative Buy" rating on Lime Energy, which closed Friday at $5.43, up $0.39, or 7.74 percent. Canaccord has a price target of $6 on them.