SolarEdge initiated with a Sector Perform at RBC Capital

RBC Capital analyst Christopher Dendrinos initiated coverage of SolarEdge with a Sector Perform rating and $85 price target. SolarEdge, one of the largest residential and commercial solar inverter providers in Europe and the U.S., has differentiated itself with its power optimizer solution and has established a strong presence in the residential and commercial and industrial segment, the analyst tells investors. Though the firm believes that current valuation multiples have troughed and 2024-2025 expectations are largely derisked, it awaits proof points of a margin recovery.