Solar stocks are on fire.

  • First Solar (FSLR) is up $3.35 a share
  • Sunrun (RUN) is up $1.83
  • SunPower (SPWR) is up $1.17
  • SolarEdge (SEDG) is up about $21 a share

That’s all happening as we speak.  All thanks to blowout earnings from Enphase Energy (ENPH).

The company just posted net income that more than doubled to $52.6 million, or 37 cents a share from $21.8 million, or 15 cents a year earlier.  Adjusted earnings came in at 73 cents, which beat forecasts for 59 cents.

Revenue popped 17.4% to a record $412.7 million, which was above expectations for $410.2 million. The company said it expects first-quarter revenue of $420 million to $440 million.

No wonder shares of ENPH are up by $15.66 to $160.16.

Helping, analysts at Craig-Hallum just upgraded the ENPH stock to a buy with a $241 target. Better, B. Riley raised its price target on ENPH to $155 from $150.  Susquehanna also raised its price target on ENPH to $250 from $225.