As previously reported, Guggenheim analyst Joseph Osha upgraded Enphase Energy (ENPH) to Neutral from Sell and removed the firm’s previous $62 price target Investor expectations for the upcoming fiscal year “appear to be more reasonable” and the firm now views shares as “fairly valued,” the analyst tells investors. Bloomberg consensus numbers are still above the firm’s estimates for this year, but Guggenheim thinks that is due mostly to stale estimates, and its conversations with investors suggest that buy-side expectations are now “close to our numbers,” the analyst added.
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