As previously reported, Guggenheim analyst Joseph Osha upgraded Enphase Energy (ENPH) to Neutral from Sell and removed the firm’s previous $62 price target Investor expectations for the upcoming fiscal year “appear to be more reasonable” and the firm now views shares as “fairly valued,” the analyst tells investors. Bloomberg consensus numbers are still above the firm’s estimates for this year, but Guggenheim thinks that is due mostly to stale estimates, and its conversations with investors suggest that buy-side expectations are now “close to our numbers,” the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ENPH:
- Enphase Energy upgraded to Neutral from Sell at Guggenheim
- Enphase Energy expands Southeast Asia with market entry in Vietnam, Malaysia
- Enphase Energy announces technology integration into Octopus Energy
- Enphase Energy announces IQ8 Microinverter compliance with BABA Act
- Enphase Energy price target lowered to $91 from $112 at JPMorgan