Enphase Energy price target raised to $115 from $111 at Jefferies

Jefferies raised the firm’s price target on Enphase Energy to $115 from $111 and keeps a Hold rating on the shares after a change in analyst coverage. The firm is encouraged by early signs of recovery back to the company’s “run-rate” revenue but says the shares are more than pricing in the recovery. As such, the analyst sees limited potential for meaningful multiple expansion.