BMO Capital raised the firm’s price target on SolarEdge (SEDG) to $25 from $19 and keeps an Underperform rating on the shares. An unexpected move into solid state electric transformers catalyzed a significant rally in shares that the firm did not expect following Q4 revenue guidance of $310M-$340M, though the residential solar markets remain challenging, the analyst tells investors in a research note.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SEDG:
- SolarEdge Reports Revenue Growth and Margin Improvement
- SolarEdge Technologies: Balancing Growth Opportunities and Revenue Concerns with a Hold Rating
- SolarEdge price target raised to $40 from $25 at Roth Capital
- Mixed Signals from SolarEdge: Strong Earnings but Weaker Revenue Projections Lead to Hold Rating
- SolarEdge, Infineon collaborate on power infrastructure for AI data centers