Enphase Energy price target lowered to $240 from $260 at Truist

Truist analyst Jordan Levy lowered the firm’s price target on Enphase Energy to $240 from $260 and keeps a Buy rating on the shares as part of a broader research note previewing Q2 results for Solar companies. The firm remains bullish overall on the long-term growth outlook for U.S. residential solar as evidenced by its Resi Solar Survey, though it also sees near-term activity levels as “more clouded”, favoring names with geographic and end-market diversification. For Enphase Energy, Truist sees a relatively flat profile for U.S. inverter sales through the remainder of the year, with total growth driven by the international expansion and batteries.