Northland thinks SolarEdge shares ‘done going down,’ upgrades to Market Perform

As previously reported, Northland analyst Gus Richard upgraded SolarEdge (SEDG) to Market Perform from Underperform with a price target of $12.50, down from $15. Shares have declined significantly since the firm cut the stock to Underperform late in February, notes the analyst, who estimates that SolarEdge will exit calendar year 2025 with about $350M in net cash and doesn’t expect the company to file for bankruptcy. Though the firm says it is not encouraging investors to accumulate shares at current levels, it believes the shares “are done going down.”