SolarEdge price target lowered to $111 from $216 at BMO Capital

BMO Capital lowered the firm’s price target on SolarEdge to $111 from $216 but keeps an Outperform rating on the shares. The analyst cites the company’s negative Q3 revenue pre-announcement, but also notes that investors are looking for what might be priced in following Friday’s 27% decline in the stock ahead of earnings next week. SolarEdge’s strong European business and PTCs for inverter manufacturing in the U.S. could drive more upside, but “there is still much we don’t know” on whether the update reflects temporary destocking vs. structural change in margin, BMO Capital adds.