Enphase Energy price target lowered to $113 from $190 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Enphase Energy to $113 from $190 and keeps a Buy rating on the shares. 2023 has been a “very challenging year” for the solar space, and Enphase’s Q3 results, but more so its Q4 guidance, confirm that there is more pain coming with a similar quarter expected to start 2024, the analyst tells investors in a research note. The firm continues to view Enphase as a top-tier company that is well positioned for the inevitable market improvement and higher share price that will come.