Enphase Energy price target lowered to $57 from $68 at Oppenheimer

Oppenheimer lowered the firm’s price target on Enphase Energy (ENPH) to $57 from $68 and keeps an Outperform rating on the shares. While the company delivered in-line revenue and strong margins in Q1 2026, management commentary pointed to market transition headwinds in the U.S. even as EU battery demand picks up, the firm says. To support improved sell-through the company indicated it would drop prices in May passing on some of the cost savings from new products but still guided Q2 margins higher. Oppenheimer is encouraged by Solid State Transformer progress with pilots likely next year and potential system level simplification for data centers, but expects investors to look for further customer validation before pricing in data center growth into shares.