RBC Capital lowered the firm’s price target on Enphase Energy (ENPH) to $71 from $85 and keeps a Sector Perform rating on the shares. The company’s most recent operating expense cuts are another proof point of the financial flexibility that Enphase has in its operating model, but the Trump policy initiatives create uncertainty for the Inflation Reduction Act, or IRA, and interest rates – both of which are “demand destructive”, the analyst tells investors in a research note. The IRA repeal is unlikely but changes are possible, the firm added.
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