Canaccord analyst Austin Moeller lowered the firm’s price target on Enphase Energy to $132 from $142 and keeps a Buy rating on the shares. The firm said while traditional high-demand home solar equipment markets are still reeling from a surge in interest rates and changes to net metering rules and subsidies, the company has recently begun shipping new high-margin products to several new geographies, including Brazil, India, Mexico, Italy and the UK and they believe they are well positioned to capture the returning consumer market.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% 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>>
See the top stocks recommended by analysts >>
Read More on ENPH:
- Enphase (NASDAQ:ENPH) Rises Even as Q4 Results Fall Short of Estimates
- Enphase Energy Inc Reported Earnings. Did it Beat Estimates?
- Enphase Energy Reports Financial Results for the Fourth Quarter of 2023
- Options Volatility and Implied Earnings Moves Today, February 06, 2024
- Enphase Energy price target lowered to $72 from $76 at BofA