BMO Capital upgraded Enphase Energy (ENPH) to Market Perform from Underperform with a price target of $41, up from $31. The firm sees the company’s Q1 revenue guidance marking a sales bottom. Enphase was definitive that it expects Q2 revenues will be up sequentially, the analyst tells investors in a research note. As a result, the firm BMO does not expect the shares to underperform to the extent they have since the down cycle in residential solar commenced.
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