Wall Street Slashed ENPH Targets as Investor Losses Deepened — Levi & Korsinsky, LLP

Wall Street Reassessment: Analyst Opinion Evolution on ENPH

NEW YORK--(BUSINESS WIRE)--Evercore ISI cut its Enphase Energy, Inc. (NASDAQ: ENPH) price target 17.5% on October 28, 2025, warning it was "weary of anticipating a 'hockey-stick' like inflection during 2H26." Within 24 hours, BMO and Goldman Sachs followed with their own downgrades. Investors who purchased ENPH securities between April 22, 2025 and October 28, 2025 and suffered losses may be entitled to compensation. Contact Levi & Korsinsky, LLP to find out if you qualify to recover losses from the ENPH decline or contact Joseph E. Levi, Esq. at [e-mail] or [phone].

ENPH shares fell $5.56, or 15.15%, closing at $31.14 on October 29, 2025. The lead plaintiff deadline is April 20, 2026.

Initial Analyst Optimism

During the Class Period, sell-side analysts tracked management's repeated assurances about channel inventory control, new product vectors including the IQ9 microinverter and Balcony Solar, and the Company's stated readiness to capture safe harbor revenue from TPO partners. These representations supported consensus estimates projecting Q4 2025 revenue between $374.4 million and $383 million.

The Downgrades Begin

The analyst reassessment was swift once Enphase disclosed Q4 2025 guidance of just $310 million to $350 million:

- Evercore ISI (October 28, 2025): Reduced price target from $40 to $33, a 17.5% cut, cautioning against expectations for a second-half 2026 recovery

- BMO Capital Markets (October 29, 2025): Slashed target from $36.70 to $31.00, a 15.5% reduction, noting Q3 revenue only cleared estimates because of $70.9 million in safe harbor revenue pulled forward from Q4 and that preliminary Q1 2026 revenue of $250 million fell "well below" its already below-consensus estimate of $270 million, versus Street consensus of $321 million

- Goldman Sachs (October 29, 2025): Cut target from $32 to $29, a 9.3% reduction, highlighting that the Q4 guidance midpoint landed "meaningfully below" its estimate and consensus of $370 million to $381 million

Execution Concerns on Wall Street

Analysts noted that Enphase's Q3 reported revenue of $410.4 million masked underlying weakness. Without the $70.9 million safe harbor pull-forward, organic revenue would have been approximately $339.5 million, falling 8.24% below the low end of the Company's own guidance range. The complaint contends this gap reveals the extent to which earlier management assurances about channel discipline and demand timing were overstated.

Speak with an attorney about recovering your ENPH investment losses or call [phone].

Why Analyst Shifts Matter for Investors

"When analyst expectations are built on incomplete or misleading company disclosures, the resulting corrections can cause significant investor harm. The rapid consensus repricing of Enphase shares following the Q3 earnings report raises important questions about what was known internally versus what was communicated to the market." — Joseph E. Levi, Esq.

LEAD PLAINTIFF DEADLINE: April 20, 2026

Act now to protect your rights in the Enphase securities action or contact Joseph E. Levi, Esq. at [e-mail] or [phone].

Levi & Korsinsky, LLP, Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered for investors.