Citi analyst Vikram Bagri maintains $SolarEdge Technologies (SEDG.US)$ with a hold rating, and adjusts the target price from $31 to $19.
According to TipRanks data, the analyst has a success rate of 26.1% and a total average return of -23.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $SolarEdge Technologies (SEDG.US)$'s main analysts recently are as follows:
The firm's recent assessment suggests a more cautious outlook on SolarEdge, reflecting a reduction in expectations. The variability in the residential solar sector's guidance for the upcoming quarter may result in different performance outcomes across the sector. Attention is drawn to the absence of a post-summer recovery in the European residential solar market. The firm also notes that competition in battery storage and domestic content orders is intensifying. It is suggested that certain alternative energy companies could preferentially benefit depending on the outcome of the upcoming U.S. presidential election, with different companies favored under Democratic or Republican victories.
The downgrade of SolarEdge is attributed to weakening demand in Europe. This is expected to postpone the company's recovery in terms of volume and margins, as well as its target of achieving $550M in quarterly revenue and positive free cash flow. Additionally, the possibility of an additional capital raise and the current interim CEO situation are seen as persisting concerns.
Note:
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