Craig-Hallum analyst Eric Stine lowered the firm’s price target on Enphase Energy (ENPH) to $123 from $153 and keeps a Buy rating on the shares. The firm notes Enphase Energy reported Q3 revenue within its guided range, but it missed across the board versus Street expectations. While the United States continues to be a cause for optimism and it was a solid quarter for energy storage, Europe remains a drag with softness in several key end markets, Craig-Hallum says.
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