Guggenheim analyst Joseph Osha upgraded Enphase Energy (ENPH) to Neutral from Sell without a price target. The firm cites valuation for the upgrade with the shares approaching its prior price target of $90. Enphase continues to face challenges, but the stock now appears fairly valued, the analyst tells investors in a research note. Guggenheim believes Enphase still faces a tough 2025 and that consensus estimates are too high for next year. However, the worst of the company’s challenges are now behind it, the firm contends. The company’s relatively high U.S. market exposure is “good news at the moment,” given the damage the Chinese suppliers are doing to pricing in Europe, which is more a problem to competitor SolarEdge (SEDG) than Enphase, says Guggenheim
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