Why This SolarEdge Analyst Is Cutting Estimates Ahead Of Q3 Earnings
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SolarEdge Technologies Inc (NASDAQ:SEDG) shares have lost more than 80% year to date.
Estimates for the company have been lowered following the release of Enphase Energy Inc’s (NASDAQ:ENPH) third-quarter results, according to JPMorgan.
Analyst Mark Strouse maintained an Overweight rating for SolarEdge Technologies while lowering the price target from $35 to $29.
The SolarEdge Technologies Thesis: Enphase Energy’s quarterly results reflect weaker-than-expected demand in Europe for solar and storage, Strouse said in the note.
Check out other analyst stock ratings.
“ENPH reported a 34% sequential decline in European sell-thru during 3Q and commented that market conditions …
Full story available on Benzinga.com
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