Enphase Energy price target lowered to $101 from $123 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Enphase Energy (ENPH) to $101 from $123 and keeps a Buy rating on the shares. Reflecting a mixed end to 2024, Enphase Energy posted a modest Q4 revenue beat with gross margin strength leading to solid EBITDA/EPS outperformance, the firm notes. The company again posted sequential revenue improvement in the U.S. reflecting stable demand in California and other markets, while Europe declined quarter-over-quarter and remains challenging due to a host of factors in specific countries as it is still early in its geographic expansion into these markets, Craig-Hallum adds.