SEDG - 7.5 Reasons To Buy Enphase

2024-06-13 12:17:15 ET

Summary

• Enphase stock has rallied 25%+ ever since its Q1 earnings update.
• An improved outlook helped investors look past Enphase's deteriorating top and bottom lines.
• The stock is still down 60% from its peak — one reason to like Enphase at current prices.
• That said, here are 7.5 reasons why I remain bullish on Enphase.

Introduction

Enphase Energy, Inc. ( ENPH ) stock has had a rough first half of 2024, up only 2% YTD while the S&P 500 is up 15% YTD. At one point, Enphase stock was down nearly 30%. We can blame high interest rates, clogging channel inventory, and energy policy changes for the stock's underperformance over the last few quarters.

Despite all its challenges, I believe Enphase stock offers decent value for long-term investors, especially since it is still down 60% from its all-time highs....

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