What's Going On With Enphase Energy Stock?
Portfolio Pulse from Henry Khederian
Enphase Energy Inc's (NASDAQ:ENPH) shares are trading higher by 1.8% after hitting a new 52-week low during Monday's session. The stock fell after Citigroup analyst Vikram Bagri maintained a Buy rating but lowered the price target from $209 to $170. The company's shares have been falling due to a rise in Treasury yields, which increases the cost of borrowing and can negatively impact profitability and stock price.
September 19, 2023 | 1:34 pm
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Enphase Energy's stock is under pressure due to rising Treasury yields, which increase borrowing costs and can negatively impact profitability. Despite this, Citigroup maintains a Buy rating but has lowered the price target.
The rise in Treasury yields increases the cost of borrowing for companies like Enphase Energy that rely on debt financing. This can negatively impact their profitability and, consequently, their stock price. Despite this, Citigroup maintains a Buy rating for ENPH, although it has lowered the price target.
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