Movement Alert|Enphase Energy Rises 5.42% in Regular Trading, Barclays Sharply Raises Rating and Target Price Amid Multiple Catalysts

Market Focus06-24 22:35

On June 24, Enphase Energy rose 5.42% in regular trading, trading at $49.79/share, with turnover of $95.55 million.

On the news front, Barclays significantly upgraded Enphase Energy, raising its target price from $30 to $51 — a 70% increase — and upgrading the rating from Underweight to Equal Weight, signaling a notably more optimistic outlook on the company. This follows earlier target price increases from Jefferies, TD Cowen, and Goldman Sachs, with the highest target reaching $70.

At the company level, the GaN-based 548 VA IQ9S commercial microinverter has begun production shipments in the U.S., marking a key milestone in bringing high-efficiency commercial solar solutions to market. Additionally, Enphase plans to sell up to $150 million in advanced manufacturing production tax credits to bolster cash flow. Director Trivedi Shanker also purchased 4,551 shares on June 12, reinforcing insider confidence.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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