SolarEdge's Restructuring To Generate Savings And Free Cash Flow Upside: Goldman Sachs Analyst
SolarEdge's Restructuring To Generate Savings And Free Cash Flow Upside: Goldman Sachs Analyst
Following the November restructuring announcement and latest update, the analyst expects SEDG to achieve approximately $17.5 million in cost reductions by the end of 2025.SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares are trading higher on Tuesday. On Monday, Goldman Sachs analyst Brian Lee raised its price target from $19 to $21, while reiterating a Buy rating.
SolarEdge Technologies, Inc. (納斯達克:SEDG) 的股票在週二上漲。週一，高盛分析師布萊恩·李將其目標價從19美元上調至21美元，同時重申了買入評級。
Yesterday, the company revealed layoffs of approximately 400 employees and post-completion the workforce reduction is expected to save $9 million to $11 million quarterly, excluding implementation costs.
昨天，公司透露裁員約400名員工，減員後預計每季度節省900萬至1100萬美元，未計算實施成本。
Also, the company disclosed safe harbor agreements with two of the largest U.S. residential solar installers and financers, including Sunrun, and completed its second sale of 45X Advanced Manufacturing Production Tax Credits.
此外，公司披露與美國兩家最大的居民太陽能安裝商和融資商達成安全港協議，包括Sunrun，並完成了第二次出售45X高級製造業生產稅收抵免。
Following the November restructuring announcement and latest update, the analyst expects SEDG to achieve approximately $17.5 million in cost reductions by the end of 2025.
根據11月份的重組公告和最新更新，分析師預計SEDG到2025年底可實現約1750萬美元的成本削減。
This should help the company accelerate its path to profitability as the macroeconomic environment stabilizes, adds the analyst.
分析師表示，這應該有助於公司在宏觀經濟環境穩定時加速盈利之路。
Moreover, Lee finds the agreement with Sunrun particularly significant, considering investor concerns about potential share losses to Tesla, as its new Powerwall 3 battery does not include SEDG inverters.
此外，李先生認爲與Sunrun的協議特別重要，因爲投資者擔心可能會向特斯拉失去市場份額，因爲其新款Powerwall 3電池不包括SEDG逆變器。
Although the exact amount of credits sold wasn't disclosed, the company seems to be following a strategy to sell 45X credits regularly on a quarterly basis, says the analyst.
儘管未披露確切出售的抵免額，但分析師表示，公司似乎正在遵循一個策略，定期每季度出售45X抵免。
Lee writes that 45X credits sale deal should support SEDG's fourth quarter free cash flow guidance of ($20 million) to $0 million, with the potential for upside, as the company aims to achieve positive FCF in the first half of 2025.
李先生寫道，45X抵免銷售協議應支持SEDG第四季度自由現金流指導爲（2000萬美元）至0萬美元，並有可能上行，因爲公司旨在在2025年上半年實現正自由現金流。
Consequently, the analyst revised adjusted EPS estimates for 2024-2026 to ($20.84) for 2024, ($2.99) for 2025, and $1.78 for 2026, compared to the previous estimates of ($20.84), ($2.89), and $1.64, respectively.
因此，分析師將2024-2026年的調整每股收益預估修訂爲2024年的（$20.84）、2025年的（$2.99）和2026年的$1.78，相較於之前的預估（$20.84）、（$2.89）和$1.64。
The change reflects lower operating expenses, with the 2025 estimate reduced due to restructuring charges.
這一變化反映了更低的營業費用，2025年的預估因重組費用而有所減少。
Also, Wells Fargo raised its price target from $15 to $19 while maintaining an Equal-Weight rating.
此外，富國銀行將目標價格從$15上調至$19，同時維持平等權重評級。
Investors can gain exposure to the stock via ProShares S&P Kensho Cleantech ETF (NYSE:CTEX) and SPDR S&P Kensho Clean Power ETF (NYSE:CNRG).
投資者可以通過ProShares S&P Kensho Cleantech 可交易ETF (紐交所:CTEX) 和SPDR S&P Kensho Clean Power 可交易ETF (紐交所:CNRG) 獲取股票的投資機會。
Price Action: SEDG shares are up 12.9% at $18.39 at the last check Tuesday.
價格行動：截至週二最後一次檢查，SEDG的股價上漲了12.9%，報$18.39。
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Photo: T. Schneider via Shutterstock.
照片：t. Schneider via Shutterstock.
譯文內容由第三人軟體翻譯。
