SolarEdge price target lowered to $210 from $340 at Truist

Truist lowered the firm’s price target on SolarEdge to $210 from $340 but keeps a Buy rating on the shares as part of a broader research note on Solar Supplier names. The firm believes that utility-scale suppliers will continue to garner a premium in the coming quarters amid favorable margin and growth tailwinds, though it also sees incremental risk around a near-term U.S. residential recovery on rate and spending headwinds, the analyst tells investors in a research note. Truist adds that while there is potential for a prolonged recovery in U.S. residential solar, it also believes that SolarEdge’s recent challenges in Europe are more likely to be resolved in coming quarters with the company’s C&I segment providing additional downside protection. The firm further cites the stock’s valuation that offers a 36% discount to solar peers on expected 2025 EBITDA basis and contends that shares offer inexpensive exposure to long-term home electrification trends that is further supported by a sizable C&I business.