Enphase Energy price target lowered to $144 from $147 at Seaport Research

Seaport Research lowered the firm’s price target on Enphase Energy to $144 from $147 and keeps a Buy rating on the shares. The firm continues to believe a recovery in global residential solar demand will be present in the second half of 2024, but now believes the upturn will experience a softer initial slope due to slower adoption of NEM 3.0 in California and the Fed’s shift to a “higher for longer” stance on easing, the analyst tells investors.