** Solar inverter maker Enphase Energy ENPH.O forecast third-quarter revenue below Wall Street estimates on Tuesday and said President Donald Trump's import tariffs had impacted its gross margin

** ENPH shares down 7.8% premarket

ANALYSTS SEE NEAR-TERM MARKET HURDLES

** TD Cowen ("hold,") cuts PT to $40 from $45, sees minimal catalysts in 2H25 as U.S. demand remains soft and safe harbor activity remains unclear in scope/timing

** Roth Capital Partners ("buy," PT:$45) says shares may struggle in the coming quarters until the U.S. residential market along with ENPH finds some footing

** "The stock may not be able to work to the upside until investors can start to have more confidence that ENPH's fundamentals have found a bottom representing an inflection back to growth. We may not see this until mid-2026" - Roth

** J.P. Morgan ("neutral," PT: 37) says it still views ENPH as an industry leader with sustainable above-average margins

** Brokerage maintains rating given the expected shakeout in market dynamics

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))