Enphase Energy upgraded to Sector Weight from Underweight at KeyBanc

KeyBanc analyst Sophie Karp upgraded Enphase Energy (ENPH) to Sector Weight from Underweight without a price target The bear case for Enphase, including Section 25X credit expiration, market share pressure, and a near-term earnings trough, appears well understood and largely priced into the shares, resulting in a more balanced risk/reward profile, the analyst tells investors in a research note. Limited further downside is offset by a high free cash flow yield and potential upside from strategic pivots in markets, products, and financing, the firm adds.