Mizuho lowered its price target for Enlight Renewable Energy (NASDAQ: ENLT) to $41 from $45. The firm maintained its Underperform rating.
Mizuho cited valuation concerns, noting the company’s EV/EBITDA multiple of 32.49. The stock was trading at $68.70, well above the new target.
The target cut came despite Mizuho’s view that near-term earnings could exceed expectations. Its 2026 EBITDA estimate of $584 million was at the high end of the company’s guidance. Mizuho also pointed to multiple contraction among peer companies.
Enlight said it will release its third-quarter 2026 financial results on November 3, 2026.