Enphase Energy price target lowered to $302 from $328 at Oppenheimer

Oppenheimer lowered the firm’s price target on Enphase Energy to $302 from $328 to reflect industry crosswinds, while keeping an Outperform rating on the shares. With important bear case arguments embedded in Enphase’s guidance, specifically slowing revenue and potential for peak gross margin, there are several dynamics that remain bullish, in the firm’s view.