Enphase upgraded to Buy at Seaport ahead of U.S. residential solar recovery

As previously reported, Seaport Research upgraded Enphase Energy to Buy from Neutral with an $185 price target. The firm thinks as Enphase will benefit from ongoing share repurchases, continued robust growth in Europe’s residential solar market and “a clear emergent recovery in U.S. residential solar installations” by mid- to late-Q2 of 2024, the analyst tells investors in a research note partially titled “Get there early to ensure you catch the sunrise.”