Enphase Energy price target lowered to $31 from $35 at Barclays

Barclays lowered the firm’s price target on Enphase Energy (ENPH) to $31 from $35 and keeps an Underweight rating on the shares ahead of the Q1 report. European solar has seen limited near-term uplift from the Iran tensions, unlike 2022’s gas-driven price shock, as current electric prices remain well below crisis peaks, the analyst tells investors in a research note. Barclays says solar demand is “still likely mild.”