BofA/Merrill Lynch downgraded Enphase Energy (NASDAQ: ENPH) from Neutral to Underperform with a price target of $10.50 (from $16.50). Analyst Krish Sankar has structural concerns about the company's ability to grow and sustain margins.

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 $12.11 yesterday.