Enphase Energy's stock rose by 3.12% and reached a 20-day high amid a challenging market environment.
KeyBanc Capital Markets upgraded Enphase Energy's rating from Underweight to Sector Weight, reflecting the analyst's recognition of potential future catalysts despite the stock's significant decline in 2025. The analyst noted that Enphase's strong financial position, characterized by a lack of debt and high free cash flow yield, provides near-term support, which may help the company maintain competitiveness during future market recoveries. Expectations of market normalization in the second half of 2026 further bolster the outlook for Enphase Energy.
This upgrade may signal a shift in investor sentiment towards Enphase Energy, suggesting that the company could be well-positioned for recovery as market conditions improve in the coming years.
Wall Street analysts forecast ENPH stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ENPH is 38.35 USD with a low forecast of 26.00 USD and a high forecast of 67.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
21 Analyst Rating
Wall Street analysts forecast ENPH stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ENPH is 38.35 USD with a low forecast of 26.00 USD and a high forecast of 67.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Buy
10 Hold
5 Sell
Hold
Current: 40.470
Low
26.00
Averages
38.35
High
67.00
Current: 40.470
Low
26.00
Averages
38.35
High
67.00
Mizuho
Maheep Mandloi
Neutral
maintain
$37 -> $38
2026-01-29
New
Reason
Mizuho
Maheep Mandloi
Price Target
$37 -> $38
AI Analysis
2026-01-29
New
maintain
Neutral
Reason
Mizuho analyst Maheep Mandloi raised the firm's price target on Enphase Energy to $38 from $37 and keeps a Neutral rating on the shares. The firm expects the company to report above-consensus Q4 results and Q1 guidance, driven by incremental safe harbor orders. Channel checks indicate November and December residential installations were better than expected, the analyst tells investors in a research note.
Citi
Vikram Bagri
Sell -> Neutral
upgrade
$31 -> $37
2026-01-22
Reason
Citi
Vikram Bagri
Price Target
$31 -> $37
2026-01-22
upgrade
Sell -> Neutral
Reason
Citi analyst Vikram Bagri upgraded Enphase Energy to Neutral from Sell with a price target of $37, up from $31. The firm sees limited downside risk in the shares. Additional downside would be driven by continued market share loss for Enphase, which seems unlikely, the analyst tells investors in a research note. The company's risks are more skewed to the upside at current share levels, Citi contends.
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Citi
Sell -> Neutral
upgrade
$31 -> $37
2026-01-22
Reason
Citi
Price Target
$31 -> $37
2026-01-22
upgrade
Sell -> Neutral
Reason
Citi upgraded Enphase Energy to Neutral from Sell with a price target of $37, up from $31.
Goldman Sachs
Neutral -> Buy
upgrade
$29 -> $45
2026-01-19
Reason
Goldman Sachs
Price Target
$29 -> $45
2026-01-19
upgrade
Neutral -> Buy
Reason
Goldman Sachs upgraded Enphase Energy 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.
About ENPH
Enphase Energy, Inc. is a global energy technology company. The Company is a supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power and control it all with a smart mobile application. It designs, develops, manufactures and sells home energy solutions that manage energy generation, energy storage, and control and communications on one intelligent platform. The Enphase Energy System brings a technology, networked approach to solar generation plus energy storage, by leveraging its design expertise across power electronics, semiconductors and cloud-based software technologies. The Enphase Energy System, powered by IQ Microinverters, IQ Batteries and other products and services, is an integrated solar, storage and energy management offering that enables self-consumption. The Company also offers a predictive software platform dedicated to simplifying the cleantech service landscape.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
