Susquehanna lowered the firm’s price target on Enphase Energy (ENPH) to $33 from $37 and keeps a Neutral rating on the shares. The firm said they reported 3Q results, with a beat on both revenue and EPS, driven by a roughly $71M in safe harbor revenue. 4Q revenue is expected to see sequential declines of about $80M at the midpoint, driven by a pull-forward from safe harboring as well as from reduced shipments due to planned destocking of the channel.
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