Enphase Energy price target lowered to $100 from $130 at Roth MKM

Roth MKM lowered the firm’s price target on Enphase Energy (ENPH) to $100 from $130 but keeps a Buy rating on the shares. The company’s Q3 results and Q4 guidance were “weak”, but while the soft outlook was due to weak European markets rather than Tesla’s (TSLA) PowerWall 3, the risk from the latter remains “around the corner”, the analyst tells investors in a research note. Roth adds that Enphase’s new battery/collar/combiner should help meaningfully, and it remains positive on the company’s “technology leadership”.