In a report released today, Jeff Osborne from TD Cowen maintained a Hold rating on SolarEdge Technologies, with a price target of $20.00.
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Jeff Osborne has given his Hold rating due to a combination of factors surrounding SolarEdge Technologies. The company is in the midst of a significant transformation, with new management focusing on divesting non-core assets and optimizing production facilities. This strategic shift is expected to culminate in the coming months, with facilities in Florida and Texas nearing full production capacity and poised for international exports.
Additionally, SolarEdge is maintaining a flexible manufacturing strategy, which allows for cost-effective production scaling with partners like Jabil and Flextronics. While the company is positioned to potentially expand margins through these efforts and the monetization of credits, the current growth outlook, particularly in Europe, remains tepid. These dynamics contribute to the Hold rating, as the company navigates through these transitional phases without aggressive discounting strategies.
In another report released on September 4, Barclays also maintained a Hold rating on the stock with a $29.00 price target.