Enphase Energy soars 21% after JPMorgan defends the company from a scathing short-seller report and says the stock has 48% upside (ENPH) | Markets Insider

soared as much as 21% on Thursday after JPMorgan defended the company from a short-seller report released on Wednesday. The firm argued that"the primary arguments of the short report can be explained.". Prescience Point is short shares of Enphase Energy.But JPMorgan sees yesterday's sell-off as a"buying opportunity" for investors, and says it has"increased conviction that the stock should recover" after talking with management of Enphase earlier today.

JPMorgan said recent improvements in Enphase's margin was driven by"diligent customer-by-customer pricing, cost containments, elimination of single-source suppliers, product improvements and volume benefits." "We believe investors can view the cash generation as an indication of true business trends and a rebuttal against the short report's alleged impropriety of deferred revenue recognition," JPMorgan said.

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