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DonCorleone77 @CorleoneDon77 on x 5459 followers
Created: 2025-07-25 03:28:07 UTC
$ENPH
Attached is page X of a 9-page Wells Fargo analyst report on ENPH issued yesterday entitled:
"Q2 In Line—Q3 Guide Soft, but Feeling a Little Better on 2026"
Wells Fargo has a 'Overweight' rating on ENPH with a $XX price target.
Wells Fargo's 'Call' regarding ENPH in the report includes the following:
"Q2 in line & Q3 guide a bit soft. ENPH was down X% AH on muted safe harbor/pull-forward commentary. We focus instead on 2026 where the outlook improved (e.g. new initiative to gain TPO share). Raising PT to $45/sh from $42/sh. We remain OW.
Demand Pull Forward Could Occur In Q4, But Implementation Timeline Questioned:
Mgmt expects a demand pull forward ahead of 25D expiration to manifest in early Q4 (we think the same - see our survey) & not Q3 as some investors were expecting. While mgmt seems confident that a pull forward will happen based on conversations w/ installers,investors are cautious whether installations can be completed & paid by YE to capture the credit. Sales would need to occur in Aug-Sept to hit YE PIS deadline.
-- Target Price Valuation for ENPH: $XXXXX from $XXXXX
Our price target of $45/share is based on a blend of a target EV/EBITDA multiple (2026E) of 22x and a discounted cash flow model (7.5% WACC & X% LTG).
-- Downside risks include:
(1) stricter safe harbor language, (2) higher interest rates, and (3) market share loss to PW3."
(Page X is not available here as X does not allow me to post pages from reports on this platform)
XXX engagements
Related Topics $enph enphase energy inc stocks technology $wfc stocks financial services stocks banks