Evercore ISI initiated coverage of Enphase Energy (ENPH) with an In Line rating and $40 price target The residential solar industry has taken its lumps over the past two years amid a broad-based slowdown that began in 2Q23 within the U.S. and 3Q23 in Europe and the industry has yet to fully recover, the analyst tells investors in a research note. The firm does not believe 2025 will provide any incremental comfort as the expedited rate reduction cycle that was once hoped for takes longer to come to fruition, if at all.
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