SolarEdge price target lowered to $23 from $27 at Roth MKM

Roth MKM analyst Philip Shen lowered the firm’s price target on SolarEdge to $23 from $27 and keeps a Neutral rating on the shares. The company delivered a mixed Q2 and a weak Q3 guide as the management now sees its E.U. channel destocking needing until “early 2025” to clear vs. prior of year-end 2024, the analyst tells investors in a research note. Shares will likely remain weak ahead until fundamental volumes improve, the firm added.