Northland Capital Markets analyst Gus Richard reiterated an Outperform rating on Enphase Energy (NASDAQ: ENPH) and raised the price target to $50.00 after the company beat consensus by $0.06 and guided Q1 revenue to $200M-$210M. The analyst reported $0.39 on $210M versus our consensus estimate of $0.32 on $205M.

The analyst stated "ENPH is tracking to hit the mid-point of guidance 7 wks into the quarter. Assuming Covid-19 supply disruptions do not get worse ENPH is in good shape to continue to outperform into Q2 when battery starts to ramp".

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 $45.56 yesterday.