Enphase Energy upgraded at Jefferies on emerging inflection in demand

As previously reported, Jefferies upgraded Enphase Energy (ENPH) to Buy from Hold with a price target of $57, up from $42. Following a 2026 volume trough, the firm sees demand and margin visibility to improve, the analyst tells investors. The primary constraint that had kept the firm on the sidelines was uncertainty around the magnitude and sustainability of volume growth following what it expects to be a trough year in 2026, but its checks now point to growing confidence in the PPL offering, highlighted by a collaboration with Greentech, the largest U.S. solar distributor, the analyst tells investors.