Enphase Energy price target lowered to $76 from $95 at Canaccord

Canaccord lowered the firm’s price target on Enphase Energy (ENPH) to $76 from $95 and keeps a Buy rating on the shares. The firm is maintinaing its rating as they believe that the near-term, reallocation of manufacturing priorities should benefit thecompany over the long term as it seeks to collect a higher share of the Section 45X Advanced Manufacturing Tax Credit for microinverters with domestic content. The model was updated to account for the headcount reduction and reduced operating expenses.