BofA downgraded SolarEdge Technologies to Neutral from Buy with a price target of $181, down from $320. The analyst is “incrementally bearish” on the company’s medium term component sales outlook following channel checks with installers and distributors. SolarEdge is “caught in a choppy sector backdrop” given the demand slowdown in the U.S. and channel inventory glut in Europe, the analyst tells investors in a research note.
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