Analyst Jeff Osborne of TD Cowen maintained a Buy rating on Enphase Energy (ENPH – Research Report), reducing the price target to $94.00.
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Jeff Osborne has given his Buy rating due to a combination of factors including Enphase Energy’s strategic initiatives and product developments. The company has outperformed expectations in the fourth quarter of 2024, driven by margin improvements, despite softer guidance for the first quarter of 2025. Osborne acknowledges that Enphase faces challenges such as losing market share and weaker demand in Europe, but he sees potential for recovery with the anticipated rollout of new products like the IQ10C battery and IQ9, expected to enhance the company’s competitive positioning.
Moreover, Enphase’s efforts in cost reduction and restructuring are expected to lower operating expenses in the coming quarters, which could contribute to improved financial performance. The company’s focus on domestic content also positions it advantageously for tax credit eligibility, potentially providing a pricing edge. While there are headwinds, Osborne believes that the positives, such as the growth in U.S. residential storage shipments and the strategic product launches, outweigh the negatives, supporting a Buy rating for the stock.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $90.00 price target.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ENPH in relation to earlier this year.