KeyBanc lowered the firm’s price target on Enphase Energy to $200 from $267 and keeps an Overweight rating on the shares following in-line Q2 results and Q3 guidance below consensus. The target change reflects a reduction in the firm’s 2023-2025 estimates due to the ongoing de-stocking in the distribution channels against slowly recovering demand, and is due to market uncertainty, which KeyBanc expects to persist at least through the end of 2023.
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 Insiders’ Hot Stocks on TipRanks >>
Read More on ENPH:
- Enphase Energy announces comprehensive solution for California NEM 3.0
- Enphase Energy expands IQ8 microinverter deployments in South Carolina
- Enphase Energy Expands IQ8 Microinverter Deployments in South Carolina
- Enphase Energy participates in a conference call with Northland
- What You Missed This Week in EVs and Clean Energy