RBC Capital analyst Christopher Dendrinos lowered the firm’s price target on Enphase Energy (ENPH) to $63 from $71 and keeps a Sector Perform rating on the shares after its Q4 results. The company has a number of new product launches on the horizon and present Enphase with a strong opportunity to return to growth, but in the near term, it is ceding market share while the underlying demand remains soft, the analyst tells investors in a research note.
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