Citigroup Downgrades Enphase Energy to Neutral, Lowers Price Target to $121
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Vikram Bagri downgraded Enphase Energy (ENPH) from Buy to Neutral and reduced the price target from $126 to $121, indicating a more cautious outlook on the stock.
April 05, 2024 | 3:14 pm
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Enphase Energy was downgraded by Citigroup from Buy to Neutral, with a price target reduction from $126 to $121, suggesting a tempered expectation for the stock's performance.
The downgrade from Buy to Neutral by a major financial institution like Citigroup, accompanied by a decrease in the price target, typically signals a less optimistic view on the stock's short-term growth potential. This can influence investor sentiment and potentially lead to a decrease in stock price in the short term.
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