The firm's price target implies the share price could grow 22.5% in the next year.
Beat-down Enphase is worth buying as its European business becomes a larger tailwind, according to Raymond James. Analyst Pavel Molchanov upgraded the solar stock to outperform from market perform. He set a price target of $225, implying the stock could rally 22.5% from where it closed Friday. "We are turning positive on Enphase for the first time since 2013, i.e., ancient history by solar industry standards," he said in a Monday note to clients.
mountain Enphase this year — CNBC's Michael Bloom contributed to this report.
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