As previously reported, Exane BNP Paribas upgraded Enphase Energy to Outperform from Neutral with a price target of $144, up from $120. While the company may report some “lacklustre” quarters in the near-term, overall trends point to a “robust” 2025 and a greater inflection than the Street forecasts on 2026 given faster rate cuts, rising customer bills, a negative correlation to recession and DC benefits, the analyst tells investors. Utility rates going up and interest rates coming down provides “the right long-term setup,” the analyst added.
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