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”.
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Read More on ENPH:
- Enphase Energy price target lowered to $93 from $102 at Morgan Stanley
- Enphase Energy price target lowered to $101 from $134 at Oppenheimer
- Enphase Energy price target lowered to $85 from $105 at Piper Sandler
- Janney ‘reluctantly’ downgrades Enphase Energy to Neutral after Q4 guidance
- Enphase Energy downgraded to Hold from Buy at Canaccord