Analysts Just Trimmed Price Targets for These 5 Stocks

In this article, we discuss the 5 stocks receiving price-target cut from analysts. If you want to see more such stocks on the list, go directly to Analysts Just Trimmed Price Targets for These 10 Stocks.

05. Enphase Energy, Inc. (NASDAQ:ENPH)

Price Reaction after the Price Target Cut: -4.74 (-3.71%)

On September 6, Morgan Stanley adjusted its target for Enphase Energy, Inc. (NASDAQ:ENPH). The previous target of $234.00 has been lowered to $159.00, reflecting a decrease of approximately 3.7%. Alongside this target adjustment, the analyst has maintained the stock’s rating at “Equal Weight.” This update from Morgan Stanley suggests a shift in their outlook for Enphase Energy, Inc. (NASDAQ:ENPH), potentially influenced by factors such as the company’s performance, industry dynamics, or broader market conditions. While the new target still implies a potential upside from the current market price of $123.03, the reduction in the target price indicates a more conservative view compared to the previous assessment.

Here is what Carillon Eagle Mid Cap Growth Fund has to say about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q2 2023 investor letter:

“Enphase Energy provides solar microinverters and energy storage solutions. The company’s shares lagged benchmark counterparts amid concerns surrounding a near-term moderation in the growth of residential solar installation in the United States. Despite this, the company possesses a market-leading position in its core microinverter product and remains wellpositioned over the long term to benefit from ongoing solar adoption trends. Additionally, Enphase is focused on growing its international presence while also unveiling new products that could provide the next tailwind to its growth story.”