Enphase Energy (ENPH) is Needham & Company's Favorite Solar Name for 2015

Needham & Company analyst Y. Edwin Mok reiterated a Buy rating and $20 price target on Enphase Energy (NASDAQ: ENPH) calling it their favorite solar name in 2015.

Mok commented, ": In conjunction with our industry report published today titled, "We Are Buyers of Solar Stocks in 2015," we highlight ENPH as our favorite solar stock in 2015 based on multiple growth opportunities, its strong position in U.S. residential, and profitable growth ahead. Enphase delivered strong, 46% revenue growth in 2014 (based on mid-pt), and we see its growth trajectory extending into 2015-16, driving upside to consensus estimates. While ENPH stock more than doubled in 2014, we see strong performance for solar stocks in 2015 enabling ENPH share price to move higher. We believe ENPH is a unique technology growth story in the solar sector, ideal for small-cap growth investors looking to participate in a growing industry."

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 $12.94 yesterday.

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