Roth MKM analyst Philip Shen lowered the firm’s price target on Enphase Energy (ENPH) to $185 from $250 and keeps a Buy rating on the shares. The company’s Q2 results were “mixed” and its Q3 guide was “dramatically lower-than-expected”, the analyst tells investors in a research note. The firm remains positive on the technology leadership at Enphase Energy, but still has concerns around the “anemic” U.S. growth outlook and the ramping Tesla (TSLA) share shift. Enphase management also does not expect U.S. residential demand to recover until rates start to decline, which “may not be for a while”, Roth MKM adds.
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- Enphase Energy price target lowered to $200 from $225 at Susquehanna
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