Enphase Energy price target lowered to $110 from $150 at Northland

Northland lowered the firm’s price target on Enphase Energy (ENPH) to $110 from $150 and keeps an Outperform rating on the shares. The firm reset its estimates on lower demand in Europe, but notes that the risk to its estimates is that European demand will not stabilize in 2025 and excess competitive inventory will take longer to clear. The firm is modeling a continuing recovery in the U.S. as new products and the need for self-generation drive demand, the analyst noted.