Enphase Energy (ENPH) PT Lowered to $130 at Truist Securities
Truist Securities analyst Jordan Levy lowered the price target on Enphase Energy (NASDAQ: ENPH) to $130.00 (from $145.00) while maintaining a Buy rating.
The analyst commented: "Into the print, we believe the overall expectations for 1Q has largely been de-risked with prior mgmt. messaging, however the broader question surrounding the timeline for a market normalization still remains. As we think ENPH will continue to maintain its leading margin profile and to execute on its opex reduction program, the shares are well setup into earnings. Overall expectations remain low at this point, and we see ENPH still well positioned to eventually weather the current storm despite further NT headwinds. Reit Buy but reduce PT to $130 from $145."