RBC Capital analyst Christopher Dendrinos downgraded Enphase Energy to Sector Perform from Outperform with a price target of $100, down from $125. The firm says competitive market dynamics will result in a slower pace of growth next year, which is not reflected in current consensus estimates. It models 2025 revenue of $1.825B for Enphase, 8% below consensus, and 2026 revenue of $2.05B, 13% below consensus. The high interest rate environment and ability of third-party ownership systems to access higher Inflation Reduction Act tax credits to support continued adoption could be an increasing headwind to demand growth next year, the analyst tells investors in a research note.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ENPH:
- Enphase Energy price target lowered to $104 from $114 at BMO Capital
- Enphase Energy price target raised to $84 from $82 at BofA
- Enphase Energy price target lowered to $130 from $140 at Roth MKM
- Enphase Energy expands its support for grid services programs across U.S.
- Enphase Energy price target lowered to $90 from $93 at Guggenheim