Barclays lowered the firm’s price target on Enphase Energy to $81 from $140 and keeps an Equal Weight rating on the shares. The company’s quarter essentially saw no de-stocking in the U.S., and combined with the demand weakness in Europe, this has pushed out de-stocking for at least another two quarters, the analyst tells investors in a research note.
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Read More on ENPH:
- Enphase Energy downgraded to Neutral from Overweight at Piper Sandler
- Enphase Energy falls 16% to $80.75 after Q3 results, below-consensus guidance
- Enphase (NASDAQ:ENPH) Craters 16% on Huge Guidance Miss
- Enphase Energy Sees Q4 revenue $300M-$350M,consensus $601.24M .
- Enphase Energy reports Q3 EPS $1.02, consensus $1.03