BofA lowered the firm’s price target on Enphase Energy to $114 from $135 and keeps an Underperform rating on the shares. After the firm’s “full fundamental reset” following a Q2 “earnings disappointment,” it now further revises down estimates to account for worsening California demand data points, a “still challenged” U.S. residential market and what it sees as incremental pressures for Enphase in Europe, the analyst tells investors.
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