Why Enphase Energy Stock Just Jumped 6.5%

Shares of solar microinverter maker Enphase Energy (NASDAQ: ENPH) are up a strong 6.5% as of 11:30 a.m. EDT. You can probably thank Bank of America and J.P. Morgan for that.

Yesterday, you see, analysts at investment bank J.P. Morgan raised their price target on Enphase stock by $12, predicting the stock will hit $92 a year from now. Enphase stock costs $88 right now.  

Today, Bank of America is following up on its brother banker's bullish note with some positive commentary of its own, reports TheFly.com. Specifically, Bank of America is initiating coverage of Enphase stock with a buy rating (J.P. Morgan also says "buy," by the way). And BofA thinks Enphase stock is worth $93 per share.

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Source Fool.com