Enphase Energy price target lowered to $30 from $31 at BofA

BofA lowered the firm’s price target on Enphase Energy (ENPH) to $30 from $31 and keeps an Underperform rating on the shares. Post the company reporting Q2 results, the firm says the U.S. residential solar market “remains structurally weak, not cyclically delayed.” Enphase’s view of the 2026 total addressable market cut of 20% “reflects what we see: a shrinking market” with few near-term catalysts, the analyst added.