Enphase Energy price target lowered to $267 from $285 at Citi

Citi lowered the firm’s price target on Enphase Energy to $267 from $285 and keeps a Buy rating on the shares. The company reported a strong Q1 but due to weaker domestic demand and lower sell through, Q2 revenue guidance missed consensus estimates, the analyst tells investors in a research note. The firm believes the guidance for Q2 is conservative and says higher sell through, more IQ8 share, conservatism baked-in for order delays and higher revenues from Europe should lead to a Q2 beat.