Susquehanna lowered the firm’s price target on Enphase Energy to $135 from $175 and keeps a Positive rating on the shares. The firm said 3Q results were mostly inline with expectations however, 4Q guidance was significantly weaker than expected. Tailwinds include battery shipments inflecting in 2024, realizing IRA benefits, and gaining traction in more geographies/markets.
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Read More on ENPH:
- Enphase Energy downgraded to Perform from Outperform at Oppenheimer
- Enphase Energy price target lowered to $81 from $140 at Barclays
- Enphase Energy downgraded to Neutral from Overweight at Piper Sandler
- Enphase Energy falls 16% to $80.75 after Q3 results, below-consensus guidance
- Enphase (NASDAQ:ENPH) Craters 16% on Huge Guidance Miss