Enphase Energy (ENPH) PT Raised to $93 at Guggenheim

Guggenheim analyst Joseph Osha raised the price target on Enphase Energy (NASDAQ: ENPH) to $93.00 (from $92.00) while maintaining a Sell rating.

The analyst commented: "Reiterating Sell rating – price target goes from $92 to $93. Meanwhile, looking at valuation, the stock is trading on 18.9x our revised 2025 EBITDA estimate. With some greater clarity on the business, and considering how comparable high-quality companies have moved, we’re adding two turns to our target multiple, which takes us from 15x to 17x. That multiple makes sense, in our view, considering valuations for comparable firms as we highlight in Figure 3. Even so, rolling all of the revisions though and applying the higher multiple, the result is a $93 per share valuation, up from $92 previously. We think the stock’s valuation indicates a belief in the market that ENPH’s 2025 estimates are materially too low. We don’t think that’s the case, based on what we saw yesterday, and the result is that our investment recommendation continues at Sell."

You May Also Be Interested In

• York Space Systems (YSS) PT Lowered to $15 at Jefferies
• JPMorgan Upgrades Hyundai Marine and Fire Insurance (001450:KS) to Neutral
• argenx SE (ARGX) PT Raised to $1,095 at Truist Securities