Enlight Renewable price target raised to $18 from $17 at JPMorgan

JPMorgan raised the firm’s price target on Enlight Renewable (ENLT) to $18 from $17 and keeps a Neutral rating on the shares as part of a Q4 earnings preview for the clean energy space. The firm continues to expect the space to remain volatile until there is better clarity into potential Inflation Reduction Act changes, which it believes could drag into the latter half of the year for certain subsectors and incentives. Fundamentally, JPMorgan continues to favor utility-scale over residential given its view that the recent spike in interest rates is relatively more negative for residential, though it notes that utility-scale challenges also remain including permitting and interconnection timing and availability of transformers.