Enphase Energy Bears The Brunt Of Slow Demand Recovery Amid De-Stocking In Distribution Channels: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
KeyBanc Capital Markets analyst Sophie Karp has reiterated an Overweight rating on Enphase Energy Inc (NASDAQ:ENPH), but lowered the price target from $267 to $200. The reduction reflects ongoing de-stocking in distribution channels and slowly recovering demand. Karp also noted a decrease in the target multiple due to market uncertainty. Enphase Energy's guidance for lower sales and stable margins reflects slowing shipments in the broader industry. The analyst also warned that slower than anticipated growth in demand for solar energy solutions could negatively impact operations.
August 17, 2023 | 6:24 pm
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Enphase Energy's stock may be impacted by the lowered price target and the analyst's concerns about slow demand recovery and ongoing de-stocking.
The lowered price target and concerns about slow demand recovery and ongoing de-stocking could negatively impact investor sentiment towards Enphase Energy, potentially leading to a decrease in its stock price.
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