Enphase Energy (ENPH) PT Lowered to $114 at BMO Capital

BMO Capital analyst Ameet Thakkar lowered the price target on Enphase Energy (NASDAQ: ENPH) to $114.00 (from $115.00) while maintaining a Market Perform rating.

The analyst commented, "We hosted ENPH's Zach Freedman, Senior Director and head of IR, for an investor dinner last night that covered a variety of topics including U.S. vs European inverter demand recovery, battery positioning, planned roll out of company's next generation of inverters - GaN based IQ9 (residential segment FY2026 most likely, commercial 2H 2025). • In addition to summarizing highlights from our meeting we are lowering our Bal 2024, FY2025 and FY2026 revenue/EBITDA estimates to account for our more cautious view primarily of European demand and adjusting our U.S. inverter/battery volume mix."

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