NOVA - Solar stocks clean energy ETFs shine bright after Enphase's stellar Q3

Solar shares surge in early trading after Enphase Energy's Q3 results and Q4 revenue guidance easily beat Wall Street estimates. SEDG +10.8%, SPWR +8.2%, SHLS +7.2%, JKS +6.8%, NOVA +6.2%, MAXN +6.1%, RUN +5.7%, DQ +5.3%, ARRY +5.2%, FSLR +4%, CSIQ +3.9%. The Invesco Solar ETF (TAN +5.9%), which includes Enphase as its second largest holding, jumps to its highest in more than seven months, and other clean energy ETFs also are running higher: CNRG +3.8%, ICLN +3.3%, QCLN +2.8%, ACES +2.8%, PBD +2.1%. Enphase's Q3 sales topped estimates while also nearly doubling Y/Y to a quarterly record $352M, and the company expects to set another sales record in Q4, forecasting $390M-$410M, also above expectations. Analysts at Evercore ISI reiterate their Outperform rating on Enphase with a $216 price target, saying the company is "in the midst of a breakthrough new product cycle" with its IQ8 solar microinverters. Keybanc's Sophie

For further details see:

Solar stocks, clean energy ETFs shine bright after Enphase's stellar Q3