Truist analyst Jordan Levy lowered the firm’s price target on Enphase Energy to $210 from $240 after its below-consensus guidance but keeps a Buy rating on the shares. The growing investor concerns on the U.S. residential market and high equipment inventory levels were substantiated by the quarter’s results, but with the stock trading at 13-times expected FY25 EBITDA, the near-term headwinds may be priced in, the analyst tells investors in a research note.
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