Goldman Sachs upgraded Enphase Energy (ENPH) to Neutral from Sell with an unchanged $29 price target The firm had turned negative on Enphase in mid-2025 with a downgrade in July, which was predicated on the company’s exposure to the expiring residential solar tax credits materially weighing on results into 2026, but since being added to the Sell list on July 8, 2025, the shares declined by 23% vs. the Russell 2000 up 12%, the analyst tells investors in a research note. The management has also reset expectations lower amid anticipation of a revenue trough in Q1 with several growth drivers that should support results through the rest of the year and beyond, the firm added.
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