Enphase Energy price target lowered to $53 from $61 at Mizuho

Mizuho analyst Maheep Mandloi lowered the firm’s price target on Enphase Energy (ENPH) to $53 from $61 and keeps an Outperform rating on the shares. The firm’s analysis of the House’s “One Big Beautiful Bill,” supplemented by channel checks, suggests the renewable energy outlook “is less dire than consensus fears.” Most utility-scale renewable projects retain economic viability through grandfathered credits until 2028, and strong demand beyond that as renewables are still the cheapest option, the analyst tells investors in a research note. Mizuho anticipates limited Senate modifications. It revised price targets across for the bill scenarios. The firm’s top pick is First Solar (FSLR).