Northland lowered the firm’s price target on Enphase Energy to $125 from $135 and keeps an Outperform rating on the shares. The company missed Q1 consensus revenue and earnings estimates and its 2025 numbers were meaningfully below consensus, the analyst tells investors in a research note. The firm, however, believes Q1 is the bottom of the cycle, with channel inventory cleared by the end of Q2. It expects rising utility rates, $7B in solar grants in the U.S., and growth in residential storage to reignite Enphase’s growth.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ENPH:
- ENPH Earnings: Enphase Sinks on Weak Earnings, Guidance
- Enphase Energy Names Mary Erginsoy as New VP and CAO
- Enphase Energy price target lowered to $130 from $145 at Truist
- Options Volatility and Implied Earnings Moves Today, April 23, 2024
- Biden’s Earth Day Surprise Adds a Little Sunshine to Solar Panel Stocks