Enphase Energy Inc (NASDAQ:ENPH) shares are trading lower by 5.25% to $99.79 Thursday afternoon. Shares of several solar stocks are trading lower during Thursday's session amid possible sympathy with First Solar after Jefferies cut its price target on the stock from $271 to $266.

What To Know: Enphase Energy shares fell Thursday in the wake of a price target reduction for First Solar, a key competitor in the solar energy space, alongside macroeconomic pressures that are clouding the outlook for renewable energy companies.

On Thursday, Jefferies analyst Dushyant Ailani lowered the price target for First Solar from $271 to $266, maintaining a buy rating...