UPDATE: Imperial Capital Initiates Coverage on Enphase Energy

In a report dated July 30, Imperial Capital analyst, Ashok Kumar initiated coverage on Enphase Energy, Inc.

with an Outperform rating and a $12 price target. Kumar wrote, "Enphase Energy enjoys first-mover advantage, in our view, with an approach that combines a fundamental change in the architecture of photovoltaic solar power systems with internet technology to deliver an increased energy harvest, lower installation costs, and higher system uptime, compared with a conventional centralized inverter. Additionally, Kumar noted that the company is scheduled to release its second quarter 2014 earnings results on August 5, 2014. He believes Enphase will be able to achieve a non-GAAP net income profit if it hits the high end of revenue guidance and the low end of operating expenses.