BofA lowered the firm’s price target on Enphase Energy (ENPH) to $34 from $42 and keeps an Underperform rating on the shares. The “One Big Beautiful Bill,” passed in the House last week, introduced new headwinds for residential solar, including 48E leasing restrictions, start-of-construction timelines, and FEOC limits on component sourcing, the analyst tells investors. Though the firm expect the Senate could moderate parts of the bill, it now incorporates full 25D repeal risk into its model, which lowers its 2026 U.S. residential volume forecast by about 3.5GW and drives down its 2026-2027 estimates, the analyst tells investors.
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Read More on ENPH:
- Enphase Energy price target lowered to $53 from $61 at Mizuho
- Charged: Solar stocks under pressure after House passes revised tax bill
- Enphase Energy Faces Stock Slump Amid Insider Sales
- Solar Stocks Bounce Back as Senate Disagrees with Clean Energy Cuts
- Morgan Stanley says amendment to OBBB more challenging for renewables
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