Enphase Energy price target lowered to $90 from $110 at Northland

Northland lowered the firm’s price target on Enphase Energy (ENPH) to $90 from $110 and keeps an Outperform rating on the shares. After Enphase recently announced a restructuring plan for its cost structure, the firm trimmed its estimates “slightly” for next year to reflect a weak recovery in demand in the U.S. and no recovery in Europe, offset by new products.