SolarEdge price target raised to $20 from $17 at Roth MKM

Roth MKM analyst Philip Shen raised the firm’s price target on SolarEdge (SEDG) to $20 from $17 and keeps a Neutral rating on the shares. The firm notes SolarEdge delivered a mixed Q4 and an “in-linish” Q1 revenue guide with better-than-expected margins. The company reported $25M of free cash flow in Q4 and guided to positive free cash flow in Q1 2025. The EU remains challenged, however, in Roth’s view, and while PW3 supply/domcon challenges could support SolarEdge in the U.S. in the near term, the firm remains on the sidelines until visibility and fundamentals improve more meaningfully.