Solar stocks like Enphase Energy (NASDAQ:ENPH) have been taking some hits lately, but Enphase itself is starting to see some new life thanks to some solid word out of Seaport Global. The news was enough to give Enphase a boost in the market at the time of writing.
The word from Seaport Global analyst Tom Curran noted that Enphase was likely to see solid growth patterns through 2025, which is terrific news, particularly for investors. In fact, Enphase should look for—according to Curran—average revenue growth of around 35% for the next two years. The ongoing growth cycle in Europe will lead the charge therein, thanks to countries like France, Germany, and the Benelux Union.
Indeed, Enphase has been busy not only in Europe but in other places as well. For instance, it’s been ramping up its Australian operations, bringing out not only new solar installations but also battery storage operations. One of solar’s greatest failings, after all, is the fact the energy produced must be used at the same time. Batteries are required in order to store the energy. So either users can only have power in the daytime or must engage in often-expensive storage functions to keep the power produced in the daytime. Enphase, therefore, is working both sides of the equation at once and improving its value to homeowners from there.
Is Enphase Energy a Buy, Sell, or Hold?
Meanwhile, Enphase is also proving its value to analysts as well. With 17 Buy ratings, six Holds, and two Sells, Enphase Energy stock is considered a Moderate Buy. Further, Enphase Energy stock offers 49.4% upside potential thanks to its average price target of $186.77.