Truist lowered the firm’s price target on Enphase Energy to $130 from $145 but keeps a Buy rating on the shares ahead of its Q1 results. The overall expectations for the quarter have largely been de-risked with prior management messaging, but the broader question surrounding the timeline for a market normalization still remains, the analyst tells investors in a research note. Enphase Energy should continue to maintain its leading margin profile and to execute on its operating expenditure reduction program, and shares look “well setup” into earning, the firm added.
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