Enphase Energy price target lowered to $147 from $159 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Enphase Energy to $147 from $159 and keeps a Buy rating on the shares. The firm notes Enphase Energy reported mixed Q1 results, with revenue at the low end of the guided range and below Street expectations. Enphase also guided Q2 revenue below as, while it still believes that Q1 was the bottom in its business, demand in the U.S. has remained soft and channel inventories have proved slow to clear, Craig-Hallum adds.