Enphase Energy, Inc. ENPH shares are rising Monday. The company announced that its cloud-based design and proposal software platform, Solargraf, is now available in Brazil. Enphase also received a price target change.
What To Know: Solar installers utilize the tool to generate system proposals and plan documents for residential and commercial clients involved in solar energy production. It boasts such features as three-dimensional (3D) modeling.
"We are really excited about Solargraf's ability to simulate the power generation of the system with Enphase microinverters," said Murilo Vidigal, project director at Mavo Engenharia.
"From the ease of system design to the confidence we have in the tool's accuracy, we are very pleased with the product and excited to expand its use with customers."
Additionally, Morgan Stanley analyst Andrew Percoco maintained Enphase Energy with a Equal-Weight and lowered the price target from $268 to $234.
Related Link: What's Going On With Mullen Automotive Stock Monday?
ENPH Price Action: Shares of ENPH were up 5.95% at $188.53 at the time of publication, according to Benzinga Pro.
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