Enphase Energy price target lowered to $300 from $365 at Northland

Northland analyst Gus Richard lowered the firm’s price target on Enphase Energy to $300 from $365 and keeps an Outperform rating on the shares. Enphase reported a "strong quarter," but guidance was "light," says the firm, which adds that it expects Q2 and Q3 to be a transition period to NEMS 3.0. However, the firm expects NEMS 3.0 to be a growth driver for Enphase and "become the template for incentives in other states," the analyst tells investors.