Needham & Company Starts Enphase Energy (ENPH) at Buy

August 25, 2014 4:30 PM EDT
Get Alerts ENPH Hot Sheet
Price: $1.85 +3.93%

Rating Summary:
    7 Buy, 8 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Needham & Company initiates coverage on Enphase Energy (NASDAQ: ENPH) with a Buy rating and a price target of $20.00.

Analyst Y. Edwin Mok states, "As the dominant supplier of microinverter systems with strong share in the U.S. residential solar market, Enphase stands to benefit from the exceptional growth of this market. Beyond U.S. residential, we believe international expansion and new commercial products will be incremental growth drivers in 2015 and beyond. We see upside to consensus 2014/15 estimates, and expect profitable growth ahead. We believe Enphase is a unique technology growth story in the solar sector, ideal for small-cap growth investors looking to participate in a growth market."

For an analyst ratings summary and ratings history on Enphase Energy click here. For more ratings news on Enphase Energy click here.

Shares of Enphase Energy closed at $13.87 yesterday.

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