Enphase Energy Inc
ENPH: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$19.00 | Klc | Xbzbzxxtpm |
Enphase Earnings: Focus Shifts to Revenue Recovery as Inventory Destocking Nears Its End
We are maintaining our $85 fair value estimate for no-moat Enphase following first-quarter results. We are lowering near-term revenue estimates, but this is offset by higher gross margin assumptions on new products. Enphase continues to be near the top of our clean energy watchlist, but we await a more attractive entry point.