Enphase Energy price target lowered to $105 from $115 at Piper Sandler

Piper Sandler lowered the firm’s price target on Enphase Energy (ENPH) to $105 from $115 and keeps a Neutral rating on the shares. For better or worse, the election season comes to a conclusion during earnings and will be the main driver of equity performance for renewables, the firm says. At the residential sub-sector level, Piper views recent outage activity as a positive indicator for backup power demand, doesn’t expect OEMs to indicate a material improvement in U.S. residential solar demand, believes the market needs to curb its enthusiasm for 2025, expects a continuation of negative commentary on Europe, believes Tesla (TSLA) fears are approaching a fever pitch, and thinks harvesting excess domestic content returns may be more complicated than appreciated.