After SolarEdge announced this morning that Zvi Lando would be stepping down as the company’s CEO and that the board appointed the company’s CFO, Ronen Faier, to serve as Interim CEO while it searches to find a new CEO, Canaccord said news of Mr. Lando’s departure “comes as a surprise but may ultimately be part of the company’s transformation strategy.” The firm, which also notes that the move to retain Faier as interim CEO will keep him onboard longer than anticipated considering he was expected to officially step down by the end of September, has a Hold rating and $27 price target on SolarEdge shares.
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