Citi analyst Vikram Bagri downgrades $SolarEdge Technologies (SEDG.US)$ to a sell rating, and adjusts the target price from $19 to $9.
According to TipRanks data, the analyst has a success rate of 22.4% and a total average return of -24.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $SolarEdge Technologies (SEDG.US)$'s main analysts recently are as follows:
SolarEdge faces challenges including tight liquidity, a daunting earnings outlook, and significant competition. Utility scale companies are described as being in a better position, often reaching consensus estimates with more robust financial standings. Furthermore, there's a noted caution towards the residential solar sector which is largely influenced by dependency on incentives and limited financial flexibility.
A reduction in workforce and several key strategic agreements have slightly improved the outlook for SolarEdge. These recent strategic initiatives are viewed as positive steps forward, though there are ongoing risks to the company's recovery efforts.
SolarEdge has introduced several initiatives that enhance its future prospects. These include safe harbor agreements that assist two major residential solar financiers in securing the domestic content bonus, the sale of 45X tax credits, and a reorganization aimed at reducing operating expenses. These positive developments are anticipated to become a central point of interest for investors starting in 2025.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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