Why Shares of Enphase Energy Are Powering Higher Today
Markets are nudging higher today with the S&P 500 and Dow Jones Industrial Average rising 0.7% and 0.6%, respectively. But investors are especially charged up about solar specialist Enphase Energy (NASDAQ: ENPH) after learning of an analyst's optimistic outlook on the stock.
As of 11:24 a.m. ET, shares of Enphase Energy are up 5.4%, retreating from their earlier rise of 7.2%.
Espousing a decidedly more bullish outlook on shares of Enphase, Sean Milligan, an analyst at Janney Montgomery Scott, upgraded the stock to buy and assigned a $282 price target, implying upside of about 42% from Friday's closing price. On Feb. 3, Milligan had rated the stock neutral and set a price target of $238.
Source Fool.com
