SolarEdge price target lowered to $106 from $119 at Mizuho

Mizuho lowered the firm’s price target on SolarEdge to $106 from $119 and keeps a Buy rating on the shares. The company’s Q4 revenue came in at low end of guidance and below estimates, and gross margin missed guidance and estimates due to higher battery storage and customer mix, the analyst tells investors in a research note. However, the firm says inventory destocking is on track and priced into the shares.