Wolfe Research analyst Steve Fleishman downgraded Enphase Energy to Peer Perform from Outperform without a price target. The firm says a rates-driven downturn in U.S. residential solar is tracking worse than it expected. The analyst sees another guidance miss for Q3 and notes Enphase’s hyper Europe growth may slow. Enphase remains a high-quality company and its valuation is now less extended, but the company needs to see better visibility on a U.S. recovery, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ENPH:
- ENPH Stock Plunges after Analyst Cuts It to Hold
- Enphase Energy and BayWa r.e. Expand Distribution Partnership in Poland
- Enphase Energy price target lowered to $240 from $267 at Citi
- Enphase Energy price target lowered to $224 from $258 at JPMorgan
- Enphase Energy price target raised to $267 from $260 at KeyBanc