Enphase Energy price target lowered to $110 from $130 at Truist

Truist lowered the firm’s price target on Enphase Energy to $110 from $130 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 results among Alternative Energy / Mobility names. The company has executed well throughout the downturn in U.S. and international residential markets, largely maintaining its leading margin structure while working to normalize inventory levels, though the impact of the Fed rate cut cycle will ultimately have a longer lag time on demand and volumes than is currently being factored into estimates, the analyst tells investors in a research note.