Enphase Energy (ENPH) has experienced an increase of over 23%, since Feb 7 2024 when they reported a Q4 earnings miss and a disappointing guidance. During their earnings conference call, the company expressed optimism that Q1 may represent the bottom quater. Early signs of recovery are already visible in Europe, and the company is confident that states outside of California will rebound swiftly.

Enphase Energy also highlighted the attractive payback from solar plus storage. With utility rates escalating significantly each year, the company anticipates a surge in demand and a potential recovery in California.

The company has also received a price target increase to $159 at Craig-Hallum and to $115 at Barclays. As of close of business on Friday, February 16, 2024, the stock stood at $131.87.