Truist analyst Jordan Levy lowered the firm’s price target on SolarEdge to $120 from $180 but keeps a Buy rating on the shares. The company’s Q3 pre-announcement was “unquestionably negative” and the firm is reducing its go-forward estimates to reflect a more pronounced near-term impact of European inventory destocking and overall residential business slowdowns, the analyst tells investors in a research note. Shares are trading at about 5-times the firm’s reduced 2025 estimates however, or about a 50% discount relative to its peers, the firm added.
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