Enphase Energy price target raised to $150 from $100 at Roth MKM

Roth MKM analyst Philip Shen raised the firm’s price target on Enphase Energy to $150 from $100 and keeps a Buy rating on the shares after the firm hosted investor meetings with the company’s co-founder and Chief Product Officer, Raghu Belur, and the company’s head of IR, Zach Freedman. Discussions were focused on investor understanding of “how close we are to trough”, along with the company’s channel inventory, end market demand, and pricing, the analyst tells investors in a research note, adding that while the stock’s current levels may look expensive, Roth recommends being focused and opportunistic on accumulating shares as it looks for fundamentals to improve.