Roth MKM lowered the firm’s price target on SolarEdge (SEDG) to $20 from $23 and keeps a Neutral rating on the shares ahead of its Q3 results. The narrative remains challenged for the company with weak EU demand, channel inventory clearing taking longer-than-expected, the potential for inventory write-down, and Tesla’s (TSLA) PowerWall 3 competition in the U.S., the analyst tells investors in a research note. Roth adds that it sees potential for a Q3/Q4-guide miss and for estimates to be revised lower.
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