SolarEdge initiated with a Buy at Mizuho

Mizuho analyst Maheep Mandloi initiated coverage of SolarEdge Technologies with a Buy rating and $108 price target. SolarEdge is one of the largest inverter providers for residential and commercial markets in the U.S., Europe, and other regions, the analyst tells investors in a research note. The firm says the company has a differentiated, patent-protected optimizer technology, is a market leader in the U.S. residential solar markets, and has a strong presence in international and commercial markets and a growing battery storage business. It finds the stock’s valuation attractive at current levels.