Enphase Energy price target lowered to $54 from $59 at RBC Capital

RBC Capital lowered the firm’s price target on Enphase Energy (ENPH) to $54 from $59 and keeps a Sector Perform rating on the shares. The company continues to face the challenges of sluggish demand and expects to see incremental margin pressure near-term due to the impact of tariffs on China where it sources its batteries, the analyst tells investors in a research note. The tariff impact comes sooner than previously modeled, and the demand outlook is weaker than expected, the firm added.