SolarEdge initiated with a Buy at Janney Montgomery Scott

Janney Montgomery Scott analyst Sean Milligan initiated coverage of SolarEdge with a Buy rating and $351 fair value estimate. The Israeli company is the "leading provider" of solar inverters on a revenue basis with operations in 36 countries and having shipped a total of 40GW of systems globally, the analyst tells investors. The firm likes that SolarEdge has the most geo-market and end-market diversification among the U.S.-listed solar OEM providers and notes that its core European markets are seeing significant growth in 2023.