Enphase Energy price target raised to $247 from $242 at B. Riley

B. Riley raised the firm’s price target on Enphase Energy to $247 from $242 and keeps a Neutral rating on the shares. Uncertainty in the U.S. residential market following five years of strong growth has resulted in investor caution toward the space, resulting in divergence in company performance across the group, the analyst tells investors in a research note. The firm says commentary around demand, improvements in supply chains, and project delays are likely key to sentiment on the earnings calls as a whole. However, it would focus investor interest toward asset ownership business models where it believes "depressed valuations look quite attractive."