Enphase CEO says solar industry poised to rebound on falling interest rates and rising utility costs
Publishing timestamp: 2024-02-07 14:44:02
Summary
Enphase shares rose over 17% despite reporting Q4 earnings and revenue that missed estimates. The company is optimistic about the solar market's recovery in 2023 due to falling interest rates and rising utility costs. Wall Street analysts had mixed reactions to the earnings report, with some lowering price targets and others upgrading the stock. The positive outlook from Enphase is also benefiting other companies in the industry, such as SolarEdge and residential solar installers Sunnova and Sunrun.
Sentiment: MIXED
Tickers: ENPH,
Keywords: u.s. economy, breaking news: business, business, business news, alternative and sustainable energy, energy, enphase energy inc,