Enphase Energy price target lowered to $44 from $54 at Jefferies

Jefferies lowered the firm’s price target on Enphase Energy (ENPH) to $44 from $54 and keeps an Underperform rating on the shares. The firm believes the outlook for residential remains challenged as sentiment on the Inflation Reduction Act worsens and visibility into the company’s long-term growth is limited. Jefferies raised its 2025 outlook for Enphase slightly for safe harbor uplift and “better than feared” U.S. market growth, but lowered its post 2026 outlook “meaningfully” on a negative IRA outcome. The firm is now well-below Street estimates and cut the price target to reflect a “high degree of IRA-related risk.”