Susquehanna lowered the firm’s price target on Enphase Energy to $200 from $225 and keeps a Positive rating on the shares. The firm said 2Q23 EPS beat expectations on strong margins. However, 3Q23 topline guidance, which implies a decline of 19% quarter-over-quarter, was much softer than expected. U.S. demand remains weak, while management is also taking steps to bring channel inventories back to healthy levels.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ENPH:
- Enphase Energy downgraded to Hold from Buy at Deutsche Bank
- Enphase Energy downgraded to Equal Weight from Overweight at Wells Fargo
- Enphase Energy price target lowered to $199 from $224 at JPMorgan
- Enphase Energy price target lowered to $155 from $221 at Barclays
- Enphase Energy price target lowered to $209 from $240 at Citi