JPMorgan Chase & Co. Raises Enlight Renewable Energy (NASDAQ:ENLT) Price Target to $57.00

Key Points

• JPMorgan raised its price target on Enlight Renewable Energy to $57.00 (from $45.00) but kept an "underweight" rating, a target that implies about a 28.57% downside from the stock's current price.
• Analysts are mixed: the consensus rating is Hold with a consensus target of $51.67 (three Buys, two Holds, two Sells), while firms like UBS and Deutsche Bank have higher $65 targets and differing ratings.
• Shares traded around $79.80 (down ~2.9%) with a $9.46B market cap and a high P/E of 78.24; the company recently beat EPS estimates but missed on revenue, and the 12‑month range is $15.00–$83.28.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $45.00 to $57.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential downside of 28.57% from the stock's current price.

A number of other research analysts also recently issued reports on ENLT. UBS Group boosted their target price on shares of Enlight Renewable Energy to $65.00 and gave the company a "buy" rating in a research report on Friday, January 16th. Deutsche Bank Aktiengesellschaft set a $65.00 price target on shares of Enlight Renewable Energy and gave the company a "hold" rating in a research note on Thursday, April 9th. Mizuho set a $37.00 price target on shares of Enlight Renewable Energy in a research note on Monday, February 23rd. Barclays reaffirmed an "overweight" rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Enlight Renewable Energy presently has a consensus rating of "Hold" and a consensus target price of $51.67.

Enlight Renewable Energy Trading Down 2.9%

Shares of NASDAQ ENLT traded down $2.38 during midday trading on Thursday, reaching $79.80. The stock had a trading volume of 194,168 shares, compared to its average volume of 150,365. The firm has a market cap of $9.46 billion, a price-to-earnings ratio of 78.24, a price-to-earnings-growth ratio of 10.90 and a beta of 1.21. Enlight Renewable Energy has a twelve month low of $15.00 and a twelve month high of $83.28. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.67 and a current ratio of 0.67. The company's 50 day moving average price is $70.62 and its 200 day moving average price is $51.78.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.17. The firm had revenue of $124.19 million for the quarter, compared to the consensus estimate of $146.12 million. Enlight Renewable Energy had a net margin of 22.69% and a return on equity of 7.35%. As a group, sell-side analysts expect that Enlight Renewable Energy will post 0.41 EPS for the current year.

Institutional Investors Weigh In On Enlight Renewable Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its stake in Enlight Renewable Energy by 256.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company's stock valued at $28,000 after purchasing an additional 881 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Enlight Renewable Energy during the 4th quarter valued at $56,000. Savant Capital LLC bought a new stake in Enlight Renewable Energy during the 4th quarter valued at $241,000. Jane Street Group LLC increased its stake in Enlight Renewable Energy by 6.0% during the 2nd quarter. Jane Street Group LLC now owns 11,366 shares of the company's stock valued at $258,000 after purchasing an additional 641 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Enlight Renewable Energy during the 4th quarter valued at $277,000. 38.89% of the stock is owned by institutional investors.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. NASDAQ: ENLT is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company's portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.

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