In a report published Wednesday, Morgan Stanley analyst Timothy Radcliff reiterated an Equal-Weight rating and $6.00 price target on Enphase Energy ENPH.
In the report, Morgan Stanley noted, “4Q13 results above expectations. Management reached break-even non-GAAP operating income for the first time in company history, and generated cash flow of $6.4m in the quarter. Revenue of $67.1m was 3% higher than cons. est. of $65.2m, and non-GAAP gross margin of 32.3% exceeded the cons. est. of 31.3% by 100bps.”
Enphase Energy closed on Tuesday at $7.58.
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