Enphase Energy price target lowered to $78 from $101 at Daiwa

Daiwa lowered the firm’s price target on Enphase Energy (ENPH) to $78 from $101 and keeps a Neutral rating on the shares. Enphase is most exposed to California as its dominant inverter vendor and stands to benefit from the increase in monthly solar capacity, the analyst tells investors in a research note. The firm says Enphase is “doing what it must to maintain its industry-leading margin profile.”