Roth MKM analyst Philip Shen lowered the firm’s price target on Enphase Energy to $100 from $170 and keeps a Buy rating on the shares. The company delivered a mixed Q3 and an even weaker outlook for Q4 and Q1 as its management expects $150M of undershipments in Q4 and nearly that much for Q1, the analyst tells investors in a research note. The stock had fallen 16% afterhours and is likely to trade “down meaningfully” in the near-term, the firm added.
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Read More on ENPH:
- Enphase Energy price target lowered to $113 from $190 at Craig-Hallum
- Enphase Energy price target lowered to $115 from $220 at Evercore ISI
- Enphase Energy price target lowered to $135 from $175 at Susquehanna
- Enphase Energy price target lowered to $143 from $178 at TD Cowen
- Enphase Energy downgraded to Perform from Outperform at Oppenheimer
