JPMorgan analyst Mark Strouse lowered the firm’s price target on Enphase Energy to $199 from $224 and keeps an Overweight rating on the shares. The company reported mixed Q2 results with revenue below expectations, and issued Q3 guidance well below recently reduced consensus estimates, the analyst tells investors in a research note. The firm continues to view Enphase as “best-in-class” with multiple long-term growth drivers, but concedes the stock may remain under pressure near-term until industry fundamentals improve.
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