UPDATE: Truist Securities Starts Enphase Energy (ENPH) at Buy, Street High PT $254
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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."
Shares of Enphase Energy closed at $201.68 yesterday.
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