Goldman Sachs upgraded Enphase Energy (ENPH) to Buy from Neutral with a price target of $45, up from $29. The firm sees upside to the company’s near-term estimates due to safe harboring activity. In addition, Enphase likely benefited from stronger than expected volume demand in Q4 amid market share gains and ear-end follow-through from the cash and loan customer end market ahead of 25D tax credit expiration, the analyst tells investors in a research note. Goldman believes the company enters 2026 with momentum and lean channel inventories.
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