Street View: Analysts remain cautious on demand risks for Enphase Energy

Enphase Energy

29/10/2025 11:05

** Solar inverter maker Enphase Energy ENPH.O forecast fourth-quarter revenue below Wall Street estimates on Tuesday, adding that Trump tariffs had a negative impact on its margins

** Shares of ENPH down over 8% in premarket trade

ANALYSTS STAY CAUTIOUS

** RBC Capital Markets("Sector Perform") cuts PT to $31 from $33, citing weak international demand and the end of the 25D tax credit, which is driving pull-forward, destocking, and safe harbor activity

** ENPH's growth hinges on executing its roadmap and scaling a pre-paid lease + loan model to help installers regain share. With limited rollout, it's too early to judge - RBC

** J.P.Morgan ("Neutral") cuts PT to $37 from $40, says the lower guidance and relatively limited visibility into the timing of a demand rebound leads them to lower their estimates

** Evercore ISI ("In-line") cuts PT to $33 from $40, noting a rebound from the Q1 26 trough-level seems relatively inevitable over the balance of the year

** Brokerage says its skeptical a modest 5% increase in electricity prices would be enough to motivate homeowners to invest in significant solar upgrades such as installing solar systems, batteries, or related equipments

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))