Enphase Energy (ENPH) Pullback is a Buying Opportunity Ahead of a Strong Quarter - Roth Capital
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Roth Capital analyst Philip Shen reiterated a Buy rating and $260.00 price target on Enphase Energy (NASDAQ: ENPH), seeing the pullback as a buying opportunity ahead of a strong Q1 report and Q2 guide.
The analyst stated "The inventory situation appears to be improving, though still not close to normalized, while the storage product gains traction. We expect ENPH to benefit from a strong U.S. resi market and see share gains internationally. Our checks suggest pricing remains stable, while the expected Q2 launch of IQ 8 could support higher ASPs by Q3."
Shares of Enphase Energy closed at $147.00 yesterday.
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