GLJ Research lowered the firm’s price target on Enphase Energy (ENPH) to $50.69 from $75.60 and keeps a Sell rating on the shares ahead of the company reporting Q4 earnings after the close today. In its preview, the firm says it is weighing “the good,” such as battery customers refusing to buy Tesla (TSLA) Powerwall offerings due to Elon Musk’s political leanings, against “the bad,” namely higher interest rates weighing on solar demand globally, and “the ugly,” such as an emerging inverter price war in Europe, which accounted for 31% of Enphase’s revenues in 2023.
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