Oppenheimer analyst Colin Rusch lowered the firm’s price target on Enphase Energy (ENPH) to $84 from $103 and keeps an Outperform rating on the shares. As Enphase begins to introduce important innovations with its Gen 4 battery and IQ9 inverter, the firm notes industry headwinds such as elevated interest rates, ebbing consumer confidence, consolidation, and evolving policy are limiting overall demand. Oppenheimer remains constructive on the shares as it continues to see Enphase enabling both VPP and microgrid functionality in advance of peers and rising electricity prices driving demand.
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Read More on ENPH:
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