$ENPH FWIW: • Enphase Energy (ENPH -1.3%) is downgraded to Neutral from Buy with a $35 price target at B. Riley FBR on valuation, as shares have more than doubled since early November. • B. Riley analyst Dave Kang expects an in-line Q4 print for Enphase but says the coronavirus outbreak could raise uncertainty on the Q1 outlook, as the company's main CM is based in Shenzhen, China; two out of four chip suppliers have assembly and packaging facilities in China; and two of its battery suppliers are based in China. • The battery situation could delay the expected ramp of the storage revenue, possibly affecting Q2 results, Kang says. • ENPH's average Sell Side Rating and Seeking Alpha Authors' Rating are Bullish, while its Quant Rating is Neutral.
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