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Enphase Energy, Inc. (NASDAQ:ENPH) is included among the 10 Best Renewable Energy Stocks to Buy According to Billionaires.

Enphase Energy, Inc. (NASDAQ:ENPH) is a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems.

On May 29, TD Cowen doubled its price target on Enphase Energy, Inc. (NASDAQ:ENPH) from $35 to $70, but maintained a ‘Hold’ rating on the shares. The revision, which reflects an upside of just over 1% from the current levels, comes after the analyst firm had a meeting with the company’s management. The key topic of discussion was the potential opportunity surrounding the solid-state transformer (SST) technology, which has garnered increased investor interest and optimism.

Purpose-built for AI data centers, Enphase’s IQ SST technology is designed to replace traditional centralized power conversion with a distributed “supercluster” architecture. The company expects the initial annual US addressable opportunity for the system in AI data centers to exceed 11 GW by 2031. Enphase projects the full system demonstrations of the platform later this year, with customer pilots expected in 2027 and volume shipments in 2028.

While we acknowledge the potential of ENPH as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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