On Oct 24, major Wall Street analysts update their ratings for $Enphase Energy (ENPH.US)$, with price targets ranging from $72 to $144.
Morgan Stanley analyst Andrew Percoco maintains with a hold rating, and adjusts the target price from $106 to $93.
J.P. Morgan analyst Mark Strouse maintains with a buy rating, and adjusts the target price from $130 to $120.
BofA Securities analyst Dimple Gosai maintains with a sell rating, and adjusts the target price from $84 to $72.
Barclays analyst Christine Cho CFA maintains with a buy rating, and maintains the target price at $114.
Evercore analyst James West maintains with a buy rating, and adjusts the target price from $133 to $125.
Furthermore, according to the comprehensive report, the opinions of $Enphase Energy (ENPH.US)$'s main analysts recently are as follows:
Investors might feel let down by the earnings report and guidance, as the Q3 figures fell short of expectations, with an assumption of reduced sequential storage shipments in the Q4 outlook. It is suggested that Europe was primarily responsible for the lower-than-anticipated Q3 performance and is also expected to be a major factor influencing the company's projections for Q4. This situation in Europe could potentially have implications for similar companies in the industry. Nonetheless, it is anticipated that the company's introduction of a new battery and meter collar could enhance its competitive stance in the market.
Enphase Energy's fourth quarter revenue guidance was impacted by several headwinds, according to an analyst, who suggests that Europe might continue to pose challenges into 2025, potentially affecting current consensus estimates. The projections for revenue and EBITDA in 2025 are anticipated to be 17% lower than the consensus.
Enphase Energy's Q3 outcomes fell short of expectations due to reduced volume, and the Q4 forecast is also underneath the consensus, attributed to challenging demand circumstances in Europe as well as a decline in battery shipments. While the company is undertaking various self-improvement efforts, it is concurrently facing demanding macroeconomic conditions in Europe and market disturbances in the U.S.
Enphase Energy maintained robust gross margin and operating cash flow despite not meeting revenue expectations, indicating effective value capture in challenging market conditions. The company is also adapting its product offerings to align with the rapidly changing duty cycles in various regions.
Here are the latest investment ratings and price targets for $Enphase Energy (ENPH.US)$ from 15 analysts:
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