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Share Facebook Twitter LinkedIn Pinterest Email Google News' now to get latest article notification text size Table of Contents Toggle Seaport analyst Tom Curran saw Infaz stock rise 50% to $185.Newspaper registration Barron’s Daily Seaport analyst Tom Curran saw Infaz stock rise 50% to $185. Getty Images Improve power By 2024 demand should see an improvement, and now is the time to buy, according to Seaport Research Partners. Enphase makes microinverters that convert solar panel sunlight into useful energy. Analyst Tom Curran improved. Zoom in The stock (ticker: ENPH ) has been promoted to Neutral Buy and a $185 price target, indicating a 50% upside from the stock’s closing price on Wednesday. Enfaz shares fell 1.1% to $122.52 in premarket trading Thursday. They are down 53 percent this year. Curran wrote in a research note Thursday that the solar industry should begin to recover in 2024 as interest rates eventually ease due to current economic pressures such as high inflation. Investors should get into stocks early after a year of rejection to “catch the sunrise.” Newspaper registration Barron’s Daily A morning roundup of what you need to know about the day ahead, including exclusive commentary from Barron’s and MarketWatch writers. “We think ENPH will benefit from continued share repurchases. It continues to see strong growth in the European residential solar market as it both expands in existing countries and enters new ones. And, in mid-to-late 2Q24, with an apparent rebound in US residential solar installations, the stock will experience a lot of rebound.” ,” Curran wrote. Enfaz stock is down 53% by 2023. On July 27, the company issued third-quarter earnings guidance below Wall Street’s expectations and said it was experiencing inventory backlogs. “The overall U.S. market is experiencing a broad slowdown,” Infaz President and CEO Badri Kothandaraman said on an earnings call in July. The solar industry has been hurt by high interest rates, which make it more expensive to finance home projects like installing panels. On top of that, California recently implemented regulatory changes that will reduce how much solar customers get to feed excess energy into the grid. But these problems won’t last forever, writes Curran, who believes Enphase is in a strong position to benefit from the industry’s recovery. Write to Angela Palumbo at [email protected]
Jeremy Grantham and Bill Gross have warned stocks are overvalued. Wharton professor Jeremy Siegel disagrees: “They are underpriced”
