ENLT is trading 5.5% down at $84.12 in pre-market, following a price target cut by UBS. * UBS lowered its price target on Enlight Renewable Energy to $115 from $123, while maintaining a Buy rating. * The revision reflects higher expected operating expenses for ENLT from 2026 through 2028 as the company continues to rapidly grow its operating capacity. * Despite the price target adjustment, UBS maintained its Buy rating based on strong operating capacity growth, underlying demand for solar and storage, and longer-term upside from expansion into data center development.