BUZZ-Enphase Energy falls after Barclays, BMO cut ratings on solar tax credit concerns

Reuters
2025/05/13
BUZZ-<a href="https://laohu8.com/S/ENPH">Enphase Energy</a> falls after Barclays, BMO cut ratings on solar tax credit concerns

** Brokerages Barclays and BMO Capital Markets cut ratings for solar inverter maker Enphase Energy ENPH.O on concerns over potential elimination of Section 25D in the solar energy market

** Section 25D is a tax credit for homeowners who buy solar energy systems with cash or a loan

** ENPH stock falls 5.7% to $45.19 premarket

** Barclays double downgrades ENPH to "underweight" from "overweight", while BMO downgrades to "underperform" from "market perform", cutting price targets to $40 from $51 and $39 from $46 respectively

** Barclays believes residential solar market will shift towards third-party owners next year, which could reduce demand for ENPH's products

** "We believe elimination of the 25D credit impacts ENPH disproportionately and shrinks the overall demand for U.S. residential solar in 2026" - BMO

** As of last close, ENPH stock down 30.2% YTD

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))

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