Piper Sandler analyst Kashy Harrison downgraded Enphase Energy to Neutral from Overweight with a price target of $75, down from $150. The company’s revenue guidance further declined in Q4 due to destocking headwinds and weaker demand, the analyst tells investors in a research note. The firm says that while 2025 may represent a return to annual growth, its confidence in Enphase’s velocity of the recovery is low. Given limited visibility and a full valuation given no near-term growth, Piper is “throwing in the towel.” It ooks for confirmation of revenue stability and declining U.S. residential financing costs to get more constructive on the name.
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Read More on ENPH:
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