Enphase Energy price target raised to $84 from $82 at BofA

BofA raised the firm’s price target on Enphase Energy to $84 from $82 and keeps an Underperform rating on the shares. While the market is beginning to show optimism for a potential 2025 rebound from the Q1 bottom for inverters, the firm remains cautious, the analyst tells investors in a preview. While the firm anticipates a more optimistic tone from management as U.S. demand drivers show signs of reacceleration and Enphase moves past its inventory challenges, volatility in shares is likely as headline Q4 revenue guidance will be “critical and heavily scrutinized,” the analyst added.