Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
Enphase Energy Inc.
drew a downgrade to perform from outperform by Oppenheimer analyst Colin Rusch , who cited “industry uncertainty.” The solar power micro-converter maker warned it expects fourth-quarter revenue of $300 million to $350 million, well below the latest FactSet consensus estimate of $447.5 million. Rusch said the company missed its third-quarter sales estimate due to weaker demand, while cost reductions are slower than expected.
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