Enphase Energy price target lowered to $221 from $226 at Barclays

Barclays analyst Christine Cho lowered the firm’s price target on Enphase Energy to $221 from $226 and keeps an Equal Weight rating on the shares ahead of the Q2 report. Tesla market share in California has started to notably tick up in April and May, which aligns with the timing of NEM 3.0 applications, implying that its offering may be more compelling to homeowners in an environment where solar plus storage economically makes more sense versus solar-only, the analyst tells investors in a research note.