New York, January 23, 2026, 10:56 EST — Regular session
- Enphase shares held steady on Friday following a strong rally the day before.
- Citi upgraded its rating to Neutral, while Goldman shifted to Buy, both pointing to a brighter near-term outlook.
- Early-February results are now the focus for investors gauging demand and setting their 2026 outlook.
Enphase Energy, Inc. shares edged up less than 0.1% to $40.50 in early Friday trading, after hitting a session high of $42.51. Solar peers saw gains as well, with Sunrun climbing roughly 5% and SolarEdge rising about 1%.
The stock surged 12.54% on Thursday, closing at $40.48, with trading volume more than twice its 50-day average. This sharp move suggests buyers are returning to a name beaten down for much of the past year. Still, Enphase remains roughly 43% below its 52-week high, highlighting that this rally is largely a rebound. (MarketWatch)
The timing is key as market sentiment shifts back to “risk-on” after President Donald Trump dropped tariff threats linked to Greenland, boosting U.S. stocks for a second day Thursday. This renewed appetite for risk pushed clean energy and other high-beta sectors higher, bouncing back from earlier this week’s sell-off. (Reuters)
On Thursday, Citi’s Vikram Bagri bumped Enphase from Sell to Neutral, lifting his price target to $37 from $31. He pointed to “limited downside risk” in the shares, noting that any further drop would probably need ongoing market-share losses—something he calls “unlikely.” Bagri also said the risks now lean “more skewed to the upside” at current prices. (TipRanks)
Goldman Sachs bumped Enphase up to Buy from Neutral, raising its price target to $45 from $29, TipRanks reported. The firm highlighted “safe harboring activity,” where customers rush to secure tax credits before deadlines. This likely boosted Enphase’s fourth-quarter volume as buyers pulled purchases ahead. (TipRanks)
Jefferies kept its Hold rating but raised the price target to $37 from $33, banking on Enphase’s ability to beat fourth-quarter EBITDA estimates, thanks in part to its storage hardware segment. The firm grew more cautious on 2026, expecting microinverter shipments to fall 30% year-on-year. That drop could be partly offset by stronger storage demand later, driven by shifting net metering rules in Europe — a system that credits solar owners for excess energy sent back to the grid. (Investing.com)
Enphase builds microinverters—those gadgets that turn solar panel power into usable electricity—and batteries. Its stock usually jumps sharply on any sign of demand pull-forwards or inventory shifts. Recent upgrades have thrown that question back into the spotlight, as traders scramble to figure out if the rally reflects real fundamentals or just positioning.
That rally offers little room for error if upcoming results don’t back up the optimistic take. A weaker-than-expected forecast for early 2026 or evidence demand was just pulled forward could swiftly put the brakes on the stock’s recent climb.
Enphase’s quarterly report, scheduled for February 3 after markets close, is the next major event investors are watching. The company is set to reveal details on fourth-quarter results and provide guidance on demand, channel inventory, and margins for 2026. (Nasdaq)
