Jefferies raised the firm’s price target on SolarEdge (SEDG) to $30 from $27 and keeps an Underperform rating on the shares. Despite slightly better results, investor focus was on increased capex and management stopped short of committing to positive free cash flow beyond Q1, the analyst tells investors. SolarEdge gained share in Q3, but the firm questions management’s ability to sustain the share gain and improve the margin profile, the analyst added.
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