Enphase Energy Rises on Future Potential By Investing.com

By Christiana Sciaudone

Investing.com —  Enphase Energy (NASDAQ:ENPH) rose more than 5%.

Simply Wall Street said the company is “still trading at a fairly cheap price” based on valuation. Enphase Energy’s earnings over the next few years are expected to double, indicating a very optimistic future ahead, the website contends.

Shares are down more than 30% from a record earlier this year. The solar power tech company has seen solid growth over the past four quarters, and that’s expected to continue for the period ending in June, according to data compiled by Investing.com.

The stock has 11 buy ratings, six holds and no sells, with an average price target of $225, which compares to the current trading price of about $152.