UPDATE: Truist Securities Starts Enphase Energy (ENPH) at Buy, Street High PT $254

January 12, 2021 6:12 AM EST
Get Alerts ENPH Hot Sheet
Price: $150.01 +2.89%

Rating Summary:
    16 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
Trade Now! 
Join SI Premium – FREE
(Updated - January 12, 2021 6:22 AM EST)

Truist Securities analyst Tristan Richardson initiates coverage on Enphase Energy (NASDAQ: ENPH) with a Buy rating and a price target of $254.00.

The analyst comments "We like Enphase’s long-term fundamental outlook on growth in residential solar, its core target market for its microinverter solutions. Broadly we look for ~20% annual growth in both 2021 and 2022 in the US market, which should allow ENPH to continue to sustainably grow its residential business on market expansion alone. Furthermore, we believe there is potential for further market share gains on revamped product lines (IQ8) and its battery storage offering."

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 $201.68 yesterday.

You May Also Be Interested In

Related Categories

Analyst Comments, Hot New Coverage, New Coverage