Enphase Energy's Price Target Lowered by BMO Capital Analyst Amid Q2 Earnings Assessment

By Don Francis, Editor
July 30, 2023 5:37 AM UTC
Enphase Energy's Price Target Lowered by BMO Capital Analyst Amid Q2 Earnings Assessment

BMO Capital's Ameet Thakkar lowered their price target on Enphase Energy Inc (NASDAQ: ENPH) by 25.53% from $235.00 to $175.00 on 2023/07/28. The analyst maintained their Buy rating on the stock.

In an assessment of the company's 2023/07/27 Q2 2023 earnings report, the analyst said that in an attempt to right-size its U.S. inverter sales channel, management's Q3 guidance was significantly lower than anticipated. Thakkar thinks, however, that the stock will rise in the long run and that Enphase's international growth is just getting started.

Other analysts updated ENPH on 2023/07/28: • Craig-Hallum's Eric Stine lowered their price target by -26.64% and maintained their Buy rating on the stock. • Wells Fargo's Praneeth Satish lowered their price target by -25.65% and downgraded their rating on the stock from Strong Buy rating to Hold. • Barclays's Brandt Montour lowered their price target by -29.86% and maintained their Hold rating on the stock.

According to data compiled by WallStreetZen, 28.57% of top-rated analysts currently rate ENPH a Strong Buy, 42.86% are calling the stock a Buy, 14.29% see it as a Hold, and 14.29% either recommend or strongly recommend that investors sell the stock.

The consensus forecast among analysts is that ENPH's upcoming year will deliver earnings per share (EPS) of $4.78. If the analysts are right, ENPH's next yearly EPS will be up by 13.59% on a year-over-year basis.

Since ENPH's last quarterly report, the stock price is up 377.95%. Year-over-year, the stock is down 43.71%. During that period, ENPH is trailing the S&P 500, which is down 12.52%.

BMO Capital analyst Ameet Thakkar is ranked by WallStreetZen in the bottom 7% out of 4,285 Wall Street analysts, with an average return of -15.82% and a 13.33% win rate. They specialize in the Industrials, Utilities, and Technology sectors.

Enphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level, and combines with its proprietary networking and software technologies to provide energy monitoring and control services. It also offers AC battery storage systems; Envoy communications gateway; and Enlighten cloud-based monitoring service, as well as other accessories. The company sells its solutions to solar distributors; and directly to large installers, original equipment manufacturers, strategic partners, and homeowners, as well as through its legacy product upgrade program or online store. Enphase Energy, Inc. was incorporated in 2006 and is headquartered in Fremont, California.

Many investors find analysts' recommendations and price targets to be useful data points. However, different investors have different priorities and risk profiles. All investors should conduct their own investment due diligence before buying a stock.

What is the average price target for Enphase Energy?

WallStreetZen tracks the performance of nearly 4,000 Wall Street analysts, whom we rank by average returns, frequency, and win-rate (backtested over multiple years).

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